If so that's a big additional risk for the buyer.

We will have lots of renovations and additions to do over the years, so I'm worried that it will be hard to save up for more rental properties.Any suggestions?

Additionally, make sure you’re familiar with local property laws and any regulations that could impact your investment.I agree with @Jason Wray that you can easily find a cash flowing deal under 200k. 

In addition I wasn't going to even mention this site but heres the link http://www.ripoffreport.com/reports/jerry-norton/i...Thats all ill pick on him today.

And if still in Spain, how long until it's in US and is shipping additional or is price landed? 

Additional Info —Key Details:Location: Outside Santa Fe, NMProperty Size: 20 acres (valued at $80,000)Project: Two new STR unitsExisting Experience: Family has two fully-occupied LTRs nearby, generating $2,000/monthConstruction Approach: Self-contracted with licensed trades for electrical/plumbingCost Assumption: $80,000 per unit, plus ~20% for inflation (based on 5–8-year-old build costs)Financing: Using land equity as down payment on construction loan (expecting closing costs to be major expense)Request: Looking for feedback, potential pitfalls, and general guidance

A PM offers so many additional services in addition to things you cannot do yourself - like simply having a 3rd party between you and the tenant.

But if you're able to figure it out and get it built, you can rent out the units and essentially BRRRR it and pull some/all of your equity out to repay your debts, yourself, and potentially keep the investment cycle going. 

Principal balance currently at 314kProperty Details: It's essentially a "2-in-1" property, with the main unit rented out for $1,900/month and an attached ADU bringing in an additional $1,200/month.

Additionally, do you all generally use a smaller income criteria if the rent is inclusive of utilities?