It’s important to be more conservative, especially when starting out, to ensure you’re building a solid foundation for for long term success. 

I’m conservative by nature, and would never be comfortable overlooking this restriction.  

If you are very conservative purchase a fixer upper so you can force equity and hopefully have a low enough payment so that you can LTR the property or even sell for profit should the STR avenue not work. 

so, i just encourage you to be conservative and cautious. 

If you ask around, you likely know someone in CA investing out of state.If you evaluate a long term rental property from a micro view of let's say the Year 1 return, with interest rates where they are, and using conservative estimates for rent, you'll be hard pressed to find compelling cashflow without going into C or D class areas nationwide. 

Then: 1,000 acres at $500.  1 year with an excavator putting in water conservation systems.  

I would be as conservative as possible in judging for cash flow. $38,000 would be amazing to get that, but of course, those are estimates and if it works out well. 

Yes, Spain is one of the countries in which banks will lend to non-residents (they generally don't) but Spanish banks are much more conservative than US banks so it's more difficult to qualify, especially if you don't earn W2 income.

Commercial properties can be lucrative, but the financing/underwriting required from lenders is generally more "conservative" relative to residential and usually have higher interest rates (unless you have a "rock star", long-term commercial tenant in place) and generally require more equity from the borrower compared to residential.

This increased demand is in areas that all ready have limited supply.Since the rates started to rise, my appreciation forecast has been conservative (as I have indicated in numerous posts) for my San Diego market (I have been underwriting at zero appreciation near term) and fortunately for me the market out performed my forecast.