@Don Konipol I definitely agree with the requirement to need a higher return if investing in emerging markets.

Another piece of advice for STRs, get a team of emergency contacts in place.

This means eliminating consumer credit, getting your credit score up, and having a substantial emergency fund.

The attraction of Istanbul is the super low Turkish Lira but there are economic and political issues.The attractive places in the Americas and the Caribbean are those who attract tourists, digital nomads, retirees or anyone wanting a better lifestyle in large numbers, those who have an emerging middle class and/or those who attract people for tax reasons.

I have actually had a lender show me those stats.To make it a little less risky, they require larger down payments, emergency reserves, and charge higher interest rates.

Ask the team about their knowledge of the specific submarket they are targeting and how they plan to capitalize on emerging opportunities.

This will likely emerge as you do some modeling and you'll see that $5K simply isn't enough.  

What about filing for eviction with an emergency motion to vacate the premises during the pendency of the proceedings due to unsafe conditions?

I would do one, minor rehab via contractors, rent it, and keep the rest handy for emergency repairs. 

You're still way under market, so even if a catastrophic emergency happens, you can exit your position and still make some cash.