I haven't seen any statistics to this effect and I don't think any has necessarily been compiled but I bet I wouldn't exaggerate if I state that 95% of the value of real estate in Southern Spain or at least the province of Andalucia is in the Costa del Sol.

Alternatively, umbrella insurance may offer cost-effective protection.

You don’t need a judgement, but not sure how effective it would be:   https://www.rentrecoveryservic...

Also, your total returns go down without any leverage because you lose the multiplier effect of appreciation.Now, to answer your question.

@Phillip Austin I self-manage my properties including some where I do rent by room as a primary strategy, and it is very effective if done well with good screening in place.The difference is starting with shorter leases for me. 

I see far too many having effectively no co-invest once you net out the acquisition fee.

At closing, the accumulated credit is applied to reduce the purchase price, eliminating the liability.

Most come out ahead over an extended period of time by buying better quality assets where they perhaps have to leave some capital in the property but find themselves able to sell for real gains or refinance out appreciated equity and scale more effectively that way. 

We used to try to offer to comp and cancel right away if they were a pain so their stay would be eliminated, but I don't know if you still can do that.

In your opinion, what is the most effective way to establish an LLC?