You would have had to be there for at least that to save on the capital gains taxes (up to 250k). 

It’s Greenside capital… Any thoughts? 

Now, if you don't have any capital, then ya you're going to have to work harder for your money.

Yes, any cash you take out of a 1031 exchange that isn’t reinvested into a like-kind property is considered “boot” and is subject to capital gains tax.

Capital gains realized by nonresidents on the sale of Portuguese property are taxed at a flat rate of 28%.

Equity split - This is more of a straightforward partnership where profits are divided based on the initial capital invested.

You’d also make all future capital gains at least partially taxable instead of tax exempt by converting your primary to a rental.

When you say you want to prioritize cash flow over equity, you want to watch out for people honing in on that and selling you "good cash flow" deals which will be in D neighborhoods and will come with high capital expenditures and harder tenancies.

Possibly some good opportunities there to (for better or worse) capitalize on the depressed market, but income and infrastructure will take a while to rebound. 

Honestly, I don't think you will be sacrificing a lot if you choose DSCR over conventional these days, and it will give you access to your capital/equity a lot faster.Happy to connect if it would be helpful.Good luck!