@David Michael so would you hire an attorney and a title company or should and attorney be sufficient enough?

The destination of the direction I was going was not a bad one, however, some of my life goals (home ownership (X many), a yard for my unborn kids, laundry in my own unit, passive income to go to my unborn kid's field trips on a whim...) were just too far out of striking range within my preferred timeline.

If it is sufficiently high, it is time to start doing the real work for the project (actual quotes, pull permits, legal, drafting etc.). 

It’s not my need but I’m aware that price range around my area is a steal !

Now, the bank typically wants 6 months of reserves- will the bank except the equity I have in my personal residents as sufficient holdings for this?

Unfortunately many investors, landlords and developers even seasoned ones don’t understand the nature of the Electic and Natural gas supply contracts they enter or have a long range plan. 

Prices range from €75,000 - €150,000 for an 80m2 place with rents ranging from €450-€800, depending on the location of course.

The property looks to be newer than 70’s/80’s therefore probably will not require 10% of Income for Maintenance.   5% would be sufficient for now.  

We have a complex locally where condos are in the 50k range. 

There are plenty of options in that price range including multifamily, it may even cash flow a bit if you put down a large enough down payment.