U can stick build for less.. they work in areas that will be very lax or dont have building permit regulations etc etc..

@Kathy MerkhI believe they have a regulation a+ offering if it’s this company: Here is there information for fund 2.https://www.sec.gov/edgar/search/#/ciks=0001831623&entityName=Connect%2520Invest%2520II%2520LLC%2520(CIK%25200001831623)Question I would ask is where are you on the debt stack and what are they investing in?

Hi Angelo, I do but Europe is huge and very differentiated you need to understand the current local laws and regulations and appraise the risk of them changing (getting worse).

Of course, there are a lot of things to look out for...setting up an appropriate contingency reserve for unexpecteds, getting an accurate scope of work, properly knowing what your time-value-of-money costs are going to be, making sure you're contractor is not pulling crews for other customers, knowing codes and getting your permitting right, and the list goes on.

How are things going to STR in spain with the new regulations? 

We attempted to DSCR this property to pull out equity but were told by the lender (and two other lenders) that DSCR would not be possible given that the home is not appropriately zoned for how we are renting it.

You need to check out the local rules and regulations before you get too ahead of yourself. 

Small banks use to do this before such practices were regulated and many got in trouble in attempting to influence a borrower, thus the regulation.

Having an LLC in that state may simplify compliance with local regulations, tax filings, and property management.

It is good that you are doing research for the regulations of the different cities.