@Joseph Griffith To answer your first question, I've house hacked in a very cheap Midwestern market and a more expensive (but still cheap compared to many coastal cities) market.

Reasonably painless (45 days of financial colonoscopy) and reasonably cheap ($3500-$5000).

So you'd be looking at high potential rental income, cheap properties or, even better a combination of the two.That prime candidates would be:Mexico and the Dominican Republic: cheap properties, mass tourism, occupancy all year long, closeness to North America, direct flights from North America, the US and increasingly Asia, strong international and domestic tourism and tourists coming from diverse locations.Southern Europe (Portugal, Spain, Italy, Greece): properties aren't necessarily that cheap (some are) but you have mass tourism there as well.Then you have secondary markets like Colombia or Brazil.

Now I’ve caught the bug and am up at 3:30 am scrolling through BP posts looking for cheap ways to find good leads to wholesale.

Because of the limited availability of financing in area like Latin America, property prices haven't been artificially overinflated by cheap debt, whereby they're much closer to their true value and won't collapse like they did in the US following the mortgage meltdown of the last decade.Nevertheless, Bruce, you're making some valid points which I could have made in my first answer but didn't.

I hired a prop mgr, but it's not cheap (like 40%) just to see what happens when someone that knows what they're doing run it.

Cheap quick cash and hungry How did you find this deal and how did you negotiate it?

  :)  In fact, one of my cabins' HOAs is $50, and I was trying to cheap out and not pay it because all I seemed to get for it was a pool. 

The quality of them PM is one thing, but it only gets amplified by the quality (or lack thereof) of the properties and the resulting quality of the tenants.If you were to illustrate this with math it would look like this:  0.1 x 0.1 x 0.1 = your result.The answer to your question is obvious, but frankly easier said than done: buy quality properties with few repairs, they will attract great tenants with few issues and even a mediocre PM will do just fine.The allure of cheap cash flowing properties is real: After I had invested all my original capital I bough a few cheaper properties in Milwaukee (this was around 2010, so they were really cheap) and fortunately traded out of them within a couple years - it taught me a lot!

Wasn't cheap but we don't regret it one bit.