Focus on tax-saving strategies such as cost segregation studies and bonus depreciation to accelerate deductions.By qualifying as a Real Estate Professional (spending 750+ hours annually and materially participating), you can offset your wife’s S-Corp income with real estate losses, reducing your tax liability.

Additionally you can do a cost segregation study and get a lot of depreciation benefits to offset the rental income (and potentially other income).  

It’s a balancing act of controlling costs while also controlling risk of personal injury to your tenants and property visitors as well as maintaining goodwill with all involved at the properties. 

Making money in real estate requires experience and starting with no or little money makes you study harder.As much as most of us probably wished for it, getting started with a lot of money in your pocket is a recipe for disaster: the temptation is to make the deal work by throwing money at it.If you want to go into real estate go with a syndicator with a good track record.

This isn't 2011-2013 days but many people are stuck in that time period STILL.As I finish my licensing study, I'm very grateful I chose this route as opposed to being a one trick pony.Wholesalers did themselves in by their method of operating.  

However, I'm unsure about the costs of maintaining the SL in Spain, especially cause I read in some forums that these costs can be pricey..Do you have any views on the above based on your experience?

Don't forget cost segregation studies as well. 

I have significant enough assets and capital that I can make a few loans while still maintaining a healthy stock portfolio to keep my money working for me. 

Most renters cannot (or will not) take proper care of a pool.So...if you decide to go for a pool property, make sure you have it maintained...and charge it to the tenant.

She's not going to have any leg to stand on in court if you get that far unless there's some explicit language prohibiting the owner from assigning responsibilities to another legally authorized party, and I'm guessing there isn't if another PM company was maintaining the lease and provisions - and the fact that the tenant was voluntarily working with the other PM confirms the acceptance of an authorized agent even if it's not explicitly stated, the same way if you accept rent from a tenant after a lease expires you imply acceptance of the lease terms continuing (which is why you should always have a holdover provision).