Yes, Spain has a wealth tax but it's above €2 million taxable income and the rate is low so it's not going to kill you.3.

Those are spray and pray techniques that don't fit with sellers right now because sellers/owners are sitting on a very low rate and don't want to move to go up 4-5 points on their rate.Listings aren't a start now thing as well.

If you need me delete my posts I have no problem I am not trying to give you a bad review.I was offering my opinion based on knowing you are "Not a lender" so for me seasoning and being familiar with guide lines is crucial in offering an investor the right guidance and direction for financing.

Personally I like keeping my properties that I know are successful and have low maintenance.

I have actually cashed out a lot of my IRA now bc I have so much depreciation from RE that my tax bracket is very low and the taxes to pay on the IRA withdrawal are also pretty much non existent (taking aside the penalty). 

I'm running your numbers and getting in the low 20% range.

The value of your SDIRA may be too low, but I'd recommend Gary Mobbs at South Star Bank in Gonzales, TX.

We'll certainly want to keep the property tax basis as low as possible if we hold it.

As I see it, the only ways that real estate pays you well in the first 3-5 years is low to no leverage or a strategy that requires more work (short term rental, mid term rental, rent by the room, etc.).  

If you're wondering if rates are too low, raise them a hair in advertising and see if your number of inquiries drop.