i actually just spoke with them and we discussed distribution track record from both Fund 1 & 2 and they had mentioned to me that they had paused distributions due to the floating rate structure that they used in both funds. 

You mentioned that you are getting inquiries but no applications.

As mentioned the most common path is to do another 1031.  

I would consider this market since you mentioned wanting to scale and have control.Best of luck!

As Rick mentioned, I'm a fee-only CFP.

Not interested in mentioning yet.

If he mentions a CT he is probably not blowing smoke and you might want to talk to a lawyer if he is pursueing things.

our advisor suggests selling one of our 3 rentals to pay off high interest adjustable debt which will free up cash flow due to our high interest adjustable HELOCs  he also thinks it may be ok to sell even if we pay capital gains which I mentioned before estimated transaction costs close to $150k OUCH> which would leave us with a approx net of $350k.

Im happy to mention real dollar amounts and share more about what I've seen! 

Also, the incredibly low interest rates and low yearly property taxes (depending on your location) help a bit on the cash flow end.From my understanding, opportunities exist in different cities in Spain, especially when considering distressed properties outside of inflated metropolitan areas (not to mention the alternative ways of acquiring property like judicial auctions, cash purchases, etc.).