Where I lived in Western Ohio the housing market has been in Recession or Recovery for 30 years with no end in sight.

I'm absolutely thrilled with this cash-on-cash rate of return (approximately 24%).My main takeaway is this: while the BRRRR strategy can work in certain situations and markets, it's not nearly as easy as many so-called gurus suggest.

Yeah that is the tough part, this deal is in a market I haven't been in before.

If this is your first step into real estate, I would suggest finding a home that needs minimal work and is in a good rental market.

Both for the past and not dragging out the present. 

There was a time when to be competitive in this market your best option would have been to pay cash, but with current market conditions I do not think that is necessary. 

Pittsburgh is a great market to get started investing in.

If you have any specific questions relating the German real estate market feel free to ask.Unfortunately most useful information will only be available in German.

Make yourself familiar with different markets - I personally recommend taking a look at Midwest markets like Columbus OH because of great macroeconomics and cheaper price points.

What town or market are you nearby?