More specifically, tenants not paying their prorated share of utilities was not equivalent to not paying rent, so couldn't be enforced.

And IMHO, currently in Austin you can't cash flow on a long-term SFH rental without putting 30-40% down payment (or finding properties well under FMV, that even after rehab will still be 20% under ARV, plus what you have to leave as DP for the mortgage, again an effective 30-40% DP - and if you are not able to find them and BRRRR, and have to pay that 30-40%, your cash on cash ROI will be under 2% similar with just leaving the money risk free in a saving account).Here is what I account as expenses for a correct calculation of cash flow:1) Mortgage2) Mortgage insurance (PMI or MIP) or FHA Risk base3) Property Taxes4) City Taxes5) HOA (Home Owner’s Association) Dues and Fees and Assessments6) Insurance   a) Property Hazard Insurance (0.3-0.45%)   b) Flood Insurance   c) Earthquake Insurance   d) Umbrella Insurance7) Vacancy Rate (usually 8% - the equivalent to one month a year, or 5-6% if multifamily and/or if experienced, if not use 8%)8) Utilities (you’ll have these if your tenant is not covering them and/or during vacancy)   a) Water § Sewer § Garbage   b) Electricity   c) Natural Gas   d) Propane9) General Maintenance (usually 5%)   a) Upkeep § Landscaping   b) Snow removal   c) Repairs   d) New Appliances   e) Make ready10) Capital Expenditures (usually 5%, higher is the property is old and obsolete, less if fully rehabbed and all mechanicals and roof are new)11) Property Management (8%, even if you self manage, your time still has value and there might be a time when you'll want to be completely hands off or you'll not be able to do it, vacation, retirement, etc.), including...  

Your state, if you were paying quarterly sales tax or B&O and the IRS are used to a schedule C or equivalent.

70% of my spending Income goes to my property investments.20% listed property portfolios 10% Cash equivalents But the return of rentals outperform any other investment over the long run with monthly rentals and yearly appreciation.

Equivalent to seller financing

This is the equivalent of hearing from successful startup founders or fortune 500 CEOs, this line of communication simply doesn't exist elsewhere and I'm very appreciative that it exists here.  

I'm interested in starting a sociedad limitada (SL, equivalent to an LLC) in Spain to purchase and rent out property. 

In many cases, yes, it's like common heart disease--for example, you do the mental equivalent of too much eating and not enough exercise, and yeah, you're going to have bad mental health. 

@Diane TycangcoIt’s confusing because personally I think the advice you were provided is the equivalent to wearing four seatbelts when driving to the store in a tank.Unless you are stupid rich, anonymity is over rated.

Moreover, Mexico has an association of realtors at the federal level, the AMPI, which is the equivalent of the NAR in the US.