My first investment property happens to be my first home purchase, so my questions are hopefully basic for anyone experienced here.

@Robert MitchellOne basic structure is that you enter into a contract with an agreed purchase price and timeline to make the purchase.

I have read a bit about how its difficult to BRRRR in Spain due to the banks in Spain basically making it extremely difficult/impossible to refinance a mortgage and take cash out.

Right now, we're basically breaking even with rent at $3200. 

Looking for high equity growth areas is a bit of a gamble.

Why then do they pay $35,000 to obtain what’s basically a sales position?  

I'm a licensed contractor in NYC and I have a good friend who's family owns a property here in Crown Heights Brooklyn that’s basically all paid off and taxes are up to date.

Today is all about framing, roofing, and exterior repairs—basically, the backbone of your rehab.

Currently the unit is rent ready, but it is very basic / utilitarian, with section 8 tenants as the main audience.

thats basic list one can add.Value add /  New construction / land entitlements/ Timber / Minerals/ Lendingetc etc.. far more ways to actually make money than just buy and wait for rental income to payoff debtl