Question:2 If we plan to buy a second property 1 or 2 years down the lane, how would lenders approach the underwriting?

I am beginning my cold calling to area apartment complexes and I feel that my approach should be much different that approaching a seller to purchase their property. 

You could make this work ST, MT or LT, depending on how you approach it - the key with unique grounds is owner-provided upkeep and service built into the listing and what permits allow. 

Quote from @Grace Tapfuma: @Benjamin Aaker, who would manage those properties if I am hoping for a more hands off approach? 

What trends are you seeing in your market, and how are you adjusting your approach to maximize returns?

But it's been sitting for 5 months on the market, and they can't sell it, so I was first going to approach with a assumption offer, but how do you approach with a subject-to, with purchase option offer?

I feel like there has to be some opportunity there, it's just that I'm not seeing it.When you have worked out creative financing, did you approach the seller with that option first, or did you make an offer and then suggest some creative financing options when the seller rejected the offer? 

With the cash-out refinance, the new loan would be approximately $1.2M.I plan to invest the $600K into rental properties with a hopeful average cap rate of 10%,… the goal of covering the mortgage payments on the $1.2M loan as well as the expenses for the rental properties.Does this approach seem feasible?

I think that market approach is saturated.

Am I right in saying that it seems like fix & flipping might be the best approach in Spain?