@Michael Ash,Are the tenants reporting it good quality tenants?  

It would be great being able to avoid traveling to china so much, knowing that Paraguay has a comparable quality.

Get a independent appraiser over to view the property and give you a better idea of comps whiles it's still for sale.. once it gone you won't have the same chance.. what's other lakeshore homes in surrounding areas going for.. what makes a property like this valuable is the setting the view, sunsets, sunrises and quality of the lake, and lake size and what the lakeshore is like. sometimes the price is hard to justify but from the owners point of view he's got the best and maybe he's right you won't realize that until you research more or when it's gone and you have to start over..Good luck.

They will ensure the property not only stays rented, but has quality tenants and is being rented at the correct market rates.  

The best ones being that in most markets they are the most in demand product for both rentals and sales, tenant quality is higher, there is more inventory of distressed property so it is easier to find one at a larger discount, and if/when I do sell it is at top dollar to a retail buyer (not an investor).

I have seen PMs charge a flat fee per unit when they are managing buildings in really bad areas and the owners of those properties agree to it because it is very hard to find a quality PM who operates in crappy areas.Does your management agreement specifically outline the payment structure when there is a vacancy?

I use a solid property manager who has found quality tenants. 

I just started Google searching buyer's agents in my area and it's actually not so simple to find anything. Where do you go/how do you go about finding a real estate agent that meets your needs. I need them to have mu...

Those looking for new or different ways to provide housing for your clientele, a vacation home for you and yours or perhaps even enhance your own passive income portfolio may find this article interesting.We Purchased this 1977 12x36 (432sf)  single wide Mobile Home for 100k.

I'll even go one further and say that some of my most successful and profitable have been "0.75% deals" ... so to me the 2% rule is less than worthless as it will tend to get you into low quality properties in low quality neighborhoods where you have low quality tenants resulting in low quality, highly volatile, and very management intensive cash flow along with zero appreciaiton (actually, negative appreciation after factoring in inflation) in both prices and rents.