Not sure if this will go against the culture here but if I read correctly and you are considering tying up your primary residence to an investment property please reconsider leveraging the home your family lives in. 

I have met Eddie nice guy but i think your hunches are correct. 

And of course being in a first position loan is ( everything being equal) the safest position if the collateral has been valued correctly..

Framing your position as fair such as explaining the difficulty of finding renters during off-peak months - might help maintain a positive relationship and reduce risks of property damage.Prepare for What’s NextEven if the tenant moves out early, ensure you’re protected.

What you wrote is actually kinda correct and I quote: "I would say it is actually quite similar to Southern Spain in many ways.

Quote from @John Friendas: Quote from @Chris Seveney: When buying at auction you will have zero ability to sue (and win) an auction site if information is not correct.  

Bruce you are 100% correct.

The model does in fact require owners to share a percentage of their rental income, but they still maintain full ownership of the property and decision-making authority.

The cost to maintain them probably wouldn’t be exactly 8x as compared to the single 8-unit, but it sure as hell isn’t a 1-to-1 ratio either. 

@Daniel Tanasa   Unfortunately that is not correct when it comes to mortgage debt.