@Chris K.

@Chris LumLee thanks for the tip.

Thanks, Chris!  

When you want to get a loan, the lenders have their own way; see @Chris Martin 's post at this link and a bit later in that thread I give links for determining useful life of the component:http://www.biggerpockets.com/forums/432/topics/867...Now, you just have to decide how you want to set up "operational" reserves; that is the money you set aside for paying taxes, insurance, utilities, mortgages, evictions,  etc (normally operating expenses) when you are experiencing an "economic" vacancy (no rent coming in whether you have a tenant or not). 

@Chris Patzelt I recently moved away from Cincy where I was born and raised.

Hi  @Chris Kuruc .

@Chris Mason - another great point.

Thanks so much @Chris Clothier for the response!

If you do get in to the vacation rental business you must self manage or you will be lucky to break even like Chris.

@Chris Seveney, his profile indicates he is buying his first property (this one, I assume) in Budapest.