@Allie McAlister I'm looking to stay local to begin with.

I'm curious as to how this has affected everyone's local market.

We have a decent amount of cash to be able to invest so I'm trying to figure out what kinds of investment strategies local RE experts in Spain are doing.

Definitely recommend checking out local REI meetups in Boston now and Chicago later—tons of value in connecting with local investors.

Beyond trying to connect on this forum would recommend look in the BP Meet up section and checking out local DFW FB RE investor Facebook groups as well as Meetup.com and Eventbrite for local events. 

Are you investing in your local market?

My thought is to help him out by going in 50-50 partnership for many reasons: half down payment, half capex expense, strong co-signer on loan, me being local to investment property to take care of little things that need attentions (he will be out of state for his job/I will have PM), etc.  1. 

Since hard money eats into profits, consider private lenders, local banks, or partnerships for lower-cost funding.

You are going to pay more for something new so you might take a look on the local Craigslist, FB marketplace or OfferUP and see what is out there.

Unfortunately, 99% of BiggerPockets posters who are not local to Philadelphia and choose to invest in Philadelphia invest in the lowest tier neighborhoods, just as they do in most other distant markets where they invest because they are lured in by the inexpensive cost of housing.