We were going to manage this property ourselves and selected a military tenant.

@Omar Torres  That is a very large and extensive question. 

There you can select 'lenders'.

Maybe we can blame it on his extensive DRUG ABUSE.

Careful in selecting those who have upfront fees!

Should I file extension for 30 days as a buyer?

They also lack any reserves.Those are the slumlords.Guess what happens to those people, they do not cashflow in the long run and cannot afford the extensive delayed repairs when it comes time to sell.

Wouter - I'd recommend doing extensive research first and deciding on where you'd want to invest as a start - considering you are going to want to stay in the same country for at least a few years before cashing out and/or expanding further, give this some thought.

Just don't select either option.

However my other rental is in the SW Ohio area, where there is a selection of houses I could pick up and have rented for under $30K with a similar cash flow - but no other notes/mortgages.