. - Established and actively managed AirBnB's will continue to be consistent income producers with a gradual growth in returns. 

I may not have explained myself clearly, so I apologize if there was any confusion.You are absolutely right that to carry out tangible commercial activities in Spain, such as real estate projects, it is necessary to establish an SL (Sociedad Limitada).

Real estate investing has been a passion of mine for time with my mother also having invested early on where I likely have gotten the love and desire to follow similar foot steps.I have taken last 6 months to educate myself and currently own a single family home as primary residence and would like to expand to multi family properties (2-4 units) for additional stream of income, not to mention potential tax benefits for long-term investing.Based on current living situation, I have a fair amount of equity established in my primary residency along with having enough cash to either pay off house completely or use towards investing in a multi family property.Given that I'm the sole source of income for our household with my wife being the home maker for our two kids under 2, trying to weigh out risks with getting started now or perhaps waiting. 

To establish a 50-50 ownership in both the property and future profits, you'll need a formal agreement outlining each person's contributions and rights.

New realtors, new realty companies, new PMs aren't going to have those established relationships and *no* PMs give up the names of their people to anyone else because getting good people is difficult. 

@Brittney Yang To structure a short-term partnership for your duplex investment, establish a joint venture or LLC with clear roles, responsibilities, and a timeline for dissolution.

When you have a new area that still has easy access to an established city, it can flourish. 

Of course when doing the 1031 exchange your basis will carry forward into your replacement property.Where you have a potential issue is establishing your intent to hold those properties but immediately selling one or more them as soon as you have them ready. 

Smart investors first focus on finding quality properties—such as those in thriving areas of Brooklyn or potential neighborhoods around Manhattan—and then reverse engineer the process by improving management, optimizing rental structures, or enhancing facilities to make it worthwhile.

The reason I ask is that knowing the fast movers of the area may help you choose your project.Lastly, what kind of renovation budget have you established, and is it an upfront budget, or will you be contributing to it over the time that you live in the property and renovate it?