Sounds like a great deal overall, congrats Ghita! 

Not an easy thing, but saving 20% or more on the cost of a new home seems well worth the time and effort if you ask me.

The new buyer puts down 10% as the option fee, ($50,000 fee to our buyer) in this case, and we make the rate 10% to the new buyer for the monthly payment. 

I am glad you highlighted the management piece as this is a crucial part of buying in another market.Excited that you are stabilized and are generating cash flow on that deal. 

Quote from @Bree Jimenez: Hello everyone, my name is Bree I am a new investor looking into get my first rental property and try the BRRR method what tips and advice does anyone have when getting your first rental property?

It generally refers to removing the tenant from the home while a lease is in place.

Turnkey or close to turnkey would be nice, but willing to consider a fixer upper for the right opportunity. 

Surely some will argue for more restrictions while others will argue we need less impediments to tourism.So, if you're going to buy I would buy soon.

You will also need to have a US Bank account.  

Focus on getting your finances in order, setting achievable goals, and finding a mentor or local real estate groups to guide you.