Look into local tax incentives and financing options, and reach out to local real estate groups or mentors to better understand the market.Good luck!

This would end up getting you some tax benefits and extra cash flow that could help you leverage that into another property...maybe a 1031 exchange.

@Rebecca GonaBigger Pockets is a great place to find a tax accountant that specializes in short-term rentals. 

I would  show you purchase strategies, real estate monetization, rent roll leveraging, portfolio margining and asset protection/deep tax deductions  

So many variables can turn a deal sideways from 1 hour to the next - i.e. inspection findings, title issues, contracts, financing issues, taxes, dept. of buildings/local municipalities, etc.I'm glad to hear you made it through the challenges, and it sounds like you'll be able to leverage this experience as you grow your portfolio.All the best to you along your journey!

Where is the income tax of 49% here?

(I REALLY can’t stand state income taxes.  

In any case, I thing your investment are pretty solid and should earn you something between a decent return all the way to a spectacular return depending on the local economic situation.  

Attractive Tax Environment for InvestorsGermany offers favorable tax policies for property investors.

Normally, you need to earn no more than 80% of the area median income to qualify for those programs.Speak with your banker or broker and good luck!