For everyone's benefit, one should note that with the exception of certain areas (e.g.

Starting sooner rather than later allows you to benefit from long-term appreciation, build equity, and gain hands-on experience, even with a smaller property.

Even then, the IRS may scrutinize the transaction if it appears the intent was to immediately convert the property into a personal residence.Additionally, if you eventually sell the property after converting it to a primary residence, you may qualify for partial benefits under the Section 121 exclusion for primary residence gains.

There are some benefits to having an LLC on reduced liability, but there are more expenses. 

Be sure to check and see if there’s any tax benefits to you from buying from the non-profit.

When in Due Diligence have a thorough inspection and get estimates for any work that is needed now and potentially in the next 3-5 years. don't forget about the tax benefits to doing the work upfront.

as a "donation" (translating to the benefit of taking a deduction for 2025).

Here’s what you need to know:Key Benefits for Landlords1.

This approach allows you to have a legal presence in the country, which is often necessary for investing there if you don’t live in Spain.Having a virtual office in Spain through your LLC could help you access local tax benefits and deductions, such as expenses for mortgage interest, repairs, and insurance, which non-residents typically cannot claim.It’s worth consulting with a tax or legal advisor familiar with both the US and Spanish systems to ensure compliance and take full advantage of this option.

Original costs were low enough that we paid them off within 10 yrs and in spite of operating cost increases of ret, Ins and r&m benefited from cash all along.