Eventually building a team will be essential to your success- Lenders, RE Agents, Property Managers, Insurance Agent and then building your inner team if you decide to form an LLC or something- Money partner, Contractor, Etc.

I figured that before asking and running the numbers but wanted to see how much margin they typically use.

@Matthew Brill  In typical Rich Dad fashion... you found a way to say how can I find the property I want, as opposed to shutting off your brain with the predetermined notion that you can't find it.

Interesting that it is a converted hospital, my first thought is that it's probably built waaaay better than the typical multifamily which is usually cheap as possible.

Here's an example:  typical 1-fam 3/1 1,200 sq ft house will sell in a B to C area in Queens for $700--800k. 

Some of what I have read said that monthly rentals are typically more, but perhaps that is only for a new tenant, rather than a steady paying good tenant that you know.

As far as advise, I wrote an article about it a while back that might be helpful: https://www.biggerpockets.com/renewsblog/2014/12/23/investing-out-of-state-essential-items-to-vet/

I typically buy in B-/C neighborhoods where none of my multi-family rentals have AC.

With a house hack you can use an FHA loan and only have to put down a couple percent I typically hear 3.5%.

When house hunting, unless you want to purchase your own kitchen, look for homes which include a kitchen in the rent price, this is typically displayed as “EBK” or Einbaukuche” There are few expats who move to Germany with their kitchen sink in hand, so ensure your know and expect this before visiting a kitchen-less home.9.