As such, if you buy at market value or make a decent deal (85%-95% of market value), your projected rental income barely even covers your monthly mortgage payment, let alone projected/unexpected costs (taxes, vacancy, maintenance, repairs, CAPEX, property management, etc.).Above, you've already mentioned valid reasons for the disparity between the US and the Belgian residential rental property market.

One unexpected thing that did come up was an insurance issue.

However, Ive been out of work for over a year due to injuries from a pretty bad car accident.

I was actually calculating maintenance and capex in my original equation too, but just for the sake of argument let's say there's an additional unexpected 100K capex cost somewhere along the way, and let's also assume there is awful appreciation of only 1%/year, and rents rise only 2%/year, while all of my costs follow inflation at 2%/year (That's pretty bad!) 

Just be very cautious of your cash flow - you definitely want it to be positive as a buffer against the unexpected.

protection of tenants, relocation assistance, right of first refusal, etc.).More specifically, I'd be curious to hear your thoughts/ experiences about the following:Unexpected Problems Unexpected rehab costs for conversion into condoTips on how to identify an excellent real estate attorneyTips for successfully creating "Declaration of Trust" and condo by-lawsAny and all insight is greatly appreciated.  

I can't afford to take on the risk that my sub will have an accident and WE won't have any recourse if they are uninsured.So yes, repairs will likely cost more.

And being free to take on unexpected things that come up really will save you time (and money) in the long run.Best of luck to you!!!

One of the leading causes why people go into debt is because something "unexpected" occurs so they charge that "unexpected bill" to their credit cards.  

Quote from @Venkata Ede: @Deandre Prescott @Greg R.Yes I was hoping to get $850 for the primary bedroom and $650-$700 for the other bedrooms w/ all utilities and internet paidJust looking at the numbers, the cash flow is really tight and doesn't leave much wiggle room for first time mistakes/unexpected cost.