I have personally been the guy who hasn't pulled permits and got caught...by far one of the worst experiences of my investing career.

Yes, Spain is one of the countries in which banks will lend to non-residents (they generally don't) but Spanish banks are much more conservative than US banks so it's more difficult to qualify, especially if you don't earn W2 income.

Also, they ONLY earn the credits if their rent for months 2-4 is paid on time. 

You have $70k in equity tied up, earning a low return relative to its potential.

I’ve never actually been legally owed money before so I was green on how to handle things while trying to be understanding and respecting other lifestyles and career choices.

Building our PM company has been the most rewarding experience of my career. 

The mortgage payment is $1,000 on each house, so you earn $500 per house or $2,000 monthly.

Often times you will pay much more in taxes than if you pulled the money out, paid the taxes and penalty and then started investing in real estate.For example, with the financing you mentioned, the IRA must pay taxes on the portion of the profit earned by financing. 

Lot of great info on this thread so hopefully you can see how networking can supercharge your investing career (also something I wish I started earlier, ha). 

For the first few years, I would focus more on the experience you gain than the money you earn.