I like the Reno, NV market because of the proximity to California, above average appreciation, limited new construction, job growth, and low taxes.

Housing Market: 77008 features a higher percentage of family households (52.39%) and married-couple families (44.77%), suggesting stability and potential for property appreciation.Digital Advertising Demand: Houston Heights apartments (77008): 50,000 average monthly searches.

Your average starter home 3b/2bath in the $260,000 range. 

Keep in mind that a property in Spain on average costs around ~180.000.

Labor rates double the national average and General contractor markups of 25+%.

What is your actual average cash flow now?

But over a 5 year average these numbers are too optimistic.

There are many other ways to qualify besides DSCR, like bank statement averages or even P&L statements that can offer lower down payments..check in with @Joseph Chiofalo he's a 20+ year mortgage colleague and can help with structuring and options.

I don't know what's right for you, and with the online resources today being able to manage remotely only gets easier and easier, but property management is still a very labor-intensive business on average, and I would guess that eventually, a problem will pop up that you wish you weren't the one that had to deal with it.

As some have mentioned already, there are other platforms out there that have a lower average transfer time (like 3-5 working days).