Rents, yes 100% I do adjust billing and it is above standard tenancy rates because they are doing it for business revenue. 

So you are better off finding someone who wants to rean interest on their money and getting a promissory note signed and giving them a 10% interest rate and having them give you a 15k loan interés only for a 12-24 month period.

Especially in a high interest rate environment where cash flows on long term rentals are muted and there is significant capital required to purchase and list on airbnb.I live near NYC but would invest out of state in an airbnb / landlord friendly state.

If it is someone you know you can give them a straight return as if its a loan - can provide a lower interest rate to provide upside - it really depends on the lender and what are they concerned with and what is their risk profile. 

If they have a good interest rate it might be worth looking to see if you could assume their loan to take advantage of the lower rate.  

When it comes to getting loans, which is pretty important for real estate investors, simple "mistakes" can make it so that you either don't qualify or you may qualify but with a higher interest rate or higher loan fees. 

I lived in Madrid, Spain for about 8 months and I am curious if it is possible for non-residents to successfully have rental properties within the country.My concern is mostly from a tax standpoint and whether it makes sense.My research shows that Non-residents of Spain(but a resident of Europe) pay a flat rate of 19% on NET RENTAL INCOME.Non-residents of Spain(Not a resident of Europe, such as the USA) pay a flat rate of 24% on GROSS RENTAL INCOME.The difference of paying tax on Net and Gross is huge.Americans are not able to deduct expenses such as mortgage interest, taxes, insurance, cleaning, repairs, etcA pro that I can think about when it comes to invest in Spain is that overall costs are less - Mortgage rates are currently around 4% - 4.5% while it is around 6.5% - 7% in the US.Am I reading the tax law correctly?

Depreciation lowers taxable income now but is subject to recapture at a maximum 25% rate when the property is sold.

Although, it's very capital intensive and you have to rely on a lot of factors you can't control, contractors, interest rates, market shifts, realtors, buyers, appraisers, inspectors, material costs, weather etc etc.

Even though there is low inventory, interest rates are high, and many properties don't cash flow, look harder there are always deals, you just need to find/make them.