Based on a quick answer from Perplexity it seems like there would be no issue with you buying the home and collecting passive income, but you may not be allowed to manage it yourself since that is considered active work.

My family has been active in the Las Vegas real estate market since 1989 working mainly in single family rentals. 

I may not have explained myself clearly, so I apologize if there was any confusion.You are absolutely right that to carry out tangible commercial activities in Spain, such as real estate projects, it is necessary to establish an SL (Sociedad Limitada).

The swap involved exchanging oil operations sites for wetland areas, allowing for habitat restoration while consolidating oil extraction activities/ 2.

It’s a great way to connect with investors and professionals in the Phoenix market who are active in residential deals.Looking forward to seeing how your journey progresses—feel free to share updates or ask questions as you dive deeper into the residential side!

Note that active income isn't the same thing as non-passive income, it's lower bar that just requires that it's a business activity that isn't just entirely passive. 

I’ve been active in the Indy investment community for over 20 years.  

But stay active doing SOMETHING.

I just appreciate the responses so far and hopefully the back and forth replies may be able to clarify and help investors who want to be more passive than active find investing opportunities that fit their personalities and their goals.

Visit with people there and you'll get a more detailed look at things from people actively working in the areas.