That self-sufficiency test is sometimes the killer on 3-4 units, but the conventional 5% down option has benefits too and that's how I got into my first multi-unit househack.  

Real estate investing has been a passion of mine for time with my mother also having invested early on where I likely have gotten the love and desire to follow similar foot steps.I have taken last 6 months to educate myself and currently own a single family home as primary residence and would like to expand to multi family properties (2-4 units) for additional stream of income, not to mention potential tax benefits for long-term investing.Based on current living situation, I have a fair amount of equity established in my primary residency along with having enough cash to either pay off house completely or use towards investing in a multi family property.Given that I'm the sole source of income for our household with my wife being the home maker for our two kids under 2, trying to weigh out risks with getting started now or perhaps waiting. 

Would love to hear your thoughts on whether pursuing this adjustment makes sense or if I should reconsider.For reference, I’ve included the following assumptions in my calculations:5% for maintenance3.5% for vacancy10% for capital expenditures and management feesThanks! 

And, factor in the depreciation and other tax benefits, deductions, home office, vehicle expenses, etc. 

STRs also avoid automatic classification as passive if rented for seven days or fewer per tenant.To maximize tax benefits, maintain detailed logs of all hours worked on activities like tenant communication, cleaning, maintenance, and marketing.

Change orders are going to happen, but by needing approval from you before they move forward, this allows you to control expenses better and/or make adjustments in the SOW so that you can stay on track and on budget.

Our dollar is losing value so you need to be with a solid operator in institutional assets that cashflow in markets while hedging inflation with tax benefits. 

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.

@Jason Burkart To maximize tax benefits, consider buying the property as a rental and leasing it to your mother at fair market value (FMV).

Builders often adjust pricing based on rental saturation, which could impact future appreciation.