Also, make sure your operating expense includes housecleaning for each booking, maintenance, utilities, and if you are not local, someone who can act as a guest contact or at least emergency contact. 

There was an emergency happened to him right around the time the rent is due.

Lower cash flow can be worth it for an emerging market or better yet a market that appreciate heavily.

A contract can be useless (sometimes it is in the US too :) ).Currency exchanges, inflation concerns, especially in emerging/developing nations. 

Or often someone will pull cash out to free up down payment funds for a future Rental property, 2nd home or simply add to their emergency funds, etc. 

I also write an introduction letter saying hello and my name and emergency contacts and where to report repair requests and what to do if there’s more of an emergency type situation that we need to deal with not like a 911 situation and what to do with rent, where to mail it or electronic payment instructions.

Emerging markets contain many risks and are difficult to navigate.

Most emerging economies are high inflation which means that the currency depreciates over time.  

It is hard for me to listen to climate emergency people as nothing has really come to fruition.

Also, since you mention that you have little to no money saved for a downpayment, you should also make sure that you have enough money saved (or access to some) to cover any emergencies (furnace goes out, tentant stops paying rent, etc.