I really am just seeking a peaceful life without screwing up what took me 10 years to build.All my properties are paid off, I did try to go the rout of hiring a property manager (two actually) and it was sooo bad.

A more realistic expectation is 24 hours which will ensure we can arrange any repairs or corrections with a team, handle it in person, etc. be curious how this plays out as I worked for local developer for a while and developed several properties in Alexandria (Specifically old town) and while the city is challenging like any city - they were mostly realistic.

The market will eventually correct the price. 

As far as I know, your assumptions about the tax implications are correct for non residents, it was one of the main factors that stopped the idea of investing in Spain for me.

Both answers are correct.

$2600 is correct/month.

While I’m still in the early stages, I’m incredibly motivated to learn, grow, and surround myself with like-minded individuals who can help guide me along the way.What drew me to real estate is that I saw it as the best route for me and family to have financial freedom.

Was I correct in my statement?"...

I'm going off the understanding that you still need to spend 500+ hours in the business to achieve material participation (please correct me if I'm wrong). 

Hard money would be the easiest and most common route to fund the purchase/rehab.