So, yes, you'll get a lower percentage of the cash flow (which isn't that high anyway for long-term rentals like pretty much anywhere in the world, including the US) but you'll get appreciation and loan amortization.b) You successfully invest in STRs and make enough money that you don't care that much about the higher taxes.To conclusion, as a foreigner investing in Spain, with a few exceptions of specialized niches, I focus on areas that have (high) capital appreciation and short-term rental potential.Hope this helps.

Very happy with them overall, but the costs/fees can be higher than others (but he said the funding was very competitive/consistent).

@Jordyn Ohs Assuming your heloc is re-advanceable and the rate is higher than your mortgage, I would suggest you pay your HELOC down as quickly as possible with any cash flow from the properties.

Investing in features like high-end appliances and modern designs yielded a higher ROI.

So now we cover utilities for both units and the new tenant pays a higher amount too on the back unit to cover all the utilities with a great profit.  

.- in this higher rate market, i find BRRRRs to be challenging because after a high LTV refinance the units have negative cash flow.  

Higher interest rates are keeping some buyers out of the market so properties are sometimes sitting for longer or not getting the desired price. 

With a 7% interest rate and high HOA fees, the key is evaluating if your skills and investments can generate higher returns elsewhere.

This is because the dwindling cash flow due to the increased rates has resulted in higher cap rates.  

Being that I get taxed at a higher rate for wage earnings then i do for capital gains I actually take home more for way less work.