The Florida coast is also attractive around Destin, Pensacola, Tampa, Jacksonville, and many other areas.

Also, 5 bedrooms may attract larger families or multiple roommate situations. 

@Steve Sun, as an out of state investor, the issue of comparing rental property nationwide is key.A naive approach comparison of median rental yield leads means that deeply blighted cities get compared with dynamic and affluent ones.Such an approach makes blighted cities more attractive.

@Andy Sabisch depends on the Class of property you are trying to buy.Many investors set themselves up for failure because they don't truly take the time to understand:1) The Class of the NEIGHBORHOOD they are buying in - which is relative to the overall area.2) The Class of the PROPERTY they are buying - which is relative to the overall area.3) The Class of the TENANT POOL the Neighborhood & Property will attract - which is relative to the overall area.4) The Class of the CONTRACTORS that will work on their Property, given the Neighborhood location - which is relative to the overall area.5) The Class of the PROPERTY MANAGEMENT COMPANIES (PMC) that will manage their Property, given the Neighborhood location and the Tenants it will attract - which is relative to the overall area.6) That a Class X NEIGHBORHOOD will have mostly Class X PROPERTIES, which will only attract Class X TENANTS, CONTRACTORS AND PMCs and deliver Class X RESULTS.7) That OOS property Class rankings are often different than the Class ranking of the local market they live.8) Class A rarely generates positive cashflow for the first 3-5 years, but usually makes up for it with higher apprciation9) Class B usually has a good mix of cashflow and appreciation10) Class C has great cashflow, but relatively low/little appreciatonhttps://www.biggerpockets.com/forums/776/topics/960183-what-they-dont-tell-you-about-cheap-rental-properties?

Tenant acknowledges the rental was represented through marketing materials designed to attract applicants for in-person inspections.

You really can't go wrong with FL as Emerald Coast is another attractive spot for STRs.

. - Renovate and Airbnb it (because its proximity to popular attractions) Then again I am not sure such a big home is good fit for airbnb, usually european families are smaller and a 4 bed home may be too big- Sell it as it is, split money with brother and use that cash to buy other smaller apartments in downtown area where rent or airbnb may be more attractive. - Sell it and invest in the USA, which I think is the worse idea. 

At first glance it seems like an intriguing prospect to be able to more easily access a much nicer property in an attractive destination town.

Raw land with no other attractions doesn't seem worth it IMO.

If you want to live like a slob but its not physically harming my property, then it is what it is....If you have so much stuff that its damaging my investment, then you either change that and pay for the damage repair NOW (not at move out) or I evict you.So if the "clutter" is attracting rodents, insects.... resulting in water damage, mildew, dry rot or other physical damage to the building above reasonable "wear and tear", I don't care if you pay on time..... you fix it or you go.