Roughly calculate €1500 for Spanish residents and €2500 for foreigners (also having in mind Power of Attorneys to delegate some of the work so you don't need to be here yourself) to set up the SL.

The property next to me is a 1 acre lot, it has a Well, Septic and Power, but no structure.

I don't see anything wrong with that approach but there isn’t a complete alignment of interest (the individual who wants to take over all construction services will want to focus on the projects with the greatest construction fee earning potential; the brokers will want to pursue more for-sale projects etc.).

I was essentially doing "novations" way before it ever became a thing, with a limited durable power of attorney, back in 2016.

•Beyond that, flood insurance adds to a buyer’s monthly expenses, which can affect their debt-to-income (DTI) ratio and reduce their overall purchasing power.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

With the potential for strong cash flow, appreciation, and inflation protection, real estate remains a powerful addition to any diversified portfolio.What Do You Think?

It will also allow you to focus more of your time and resources in the actual real estate vs. raising capital which usually leads to poor real estate acquisition and operational decisions because raising capital is your full time job leaving an inadequate amount of time for the real estate.OK, chasing 32unit apartments, acquisition priced between 3.2M - 4.8M.  

The investment in the plane ticket and hotel can pay off huge when you are able to find and focus in on a specific area. 

If you're already showing losses, focus your energy elsewhere!