The license doesn't cost more, the service and quality does.And a note on that cost, in my experience hiring contractors, only a small percentage of the cost savings was due to finding the right guy who is willing to work for less.

A healthy and wholesome percentage, for sure.So to answer your point, yes it is a conflict of interest.

So while moving back into it for 2 years does bring the 121 exclusion back into play, that exclusion is reduced based on the percentage of Non Qualified usage over the holding period.  

A HELOC offers flexibility, as you only pay interest on what you use, but rates tend to be variable.

I'd rather see a comparison of dollar amounts rather than percentages - they may have similar percents but the absolute dollar amounts should be quite different.  

When you add on your new lease fees, lock box fees, inspection fees etc. the percentage creeps far higher.

Ok, next let's remove all the high risk; bye-bye sec8, D/C class, per room rentals, STRs, all that big variables stuff GONE. 

I would expect they would take a higher revenue percentage.

Start with a fix and flip loan - this will include a percentage of the purchase price and usually 100% of the rehab.

So, yes, you'll get a lower percentage of the cash flow (which isn't that high anyway for long-term rentals like pretty much anywhere in the world, including the US) but you'll get appreciation and loan amortization.b) You successfully invest in STRs and make enough money that you don't care that much about the higher taxes.To conclusion, as a foreigner investing in Spain, with a few exceptions of specialized niches, I focus on areas that have (high) capital appreciation and short-term rental potential.Hope this helps.