Should he be exposed to all liabilities that comes with it such as lawsuit, history of insurance claims(I believe insurance have a data base of past claims that can affect future coverage), credit and what not at an early age? 

Based on ones financial wherewithal this can be accomplished combining funds vs multiple individual syndication deals or both. 

I'm currently based in Logrono where prices are much more affordable but am also looking in the Valencia region.

I suggest running an analysis and just sharing it here on BP.I am also happy to hop on a call and point you in the right direction based on some of my experiences- no matter what, keep at it...this stuff takes time.If you get a deal here in Chicago and need to partner up, I am your guy!

Realistic returns on a project are in the 15-25% range. so if you ran it based on that the numbers are very close.

It is in good condition and centrally located to shopping and the base so I'm surprise that it has been sitting this long. 

I think it would appraise between 100k - 115k based off latest comps but it is a hard town to comp for. 

Financial wise there are a couple things to consider: -When considering the property taxes, ensure it is based on reassessed tax amount, not current tax rate.

For example, I would recommend touching base with local landlords in the market you're wanting to do section 8 investing in to get a feel for how the local section 8 office handles landlord/office relationships. 

If the property was in Hartford proper, we would tell you no to management since the tenant base is much harder, it is harder to get rent collected on time.