When we establish minimum requirements for screening new tenants, it is to reduce the chance that a tenant will be a problem and to reduce the chance they will default in paying their rent.

Line of credit could be made after the LLC. is established but you should be able to document the $35k in the personal account and just transfer the necessary amount before closing.  

I am looking for something like 60 to 80 square meter around areas such as Eixample or Gracia which might not be the most upcoming area as they are already well established but it should not be to difficult to rent it in the other hand.As being totally newbie I am looking at everything that it is important before jumping.      

@ankit    yea, a good friend of mine has an established realtor in that area that specializes in buy and hold properties.

@Gerald O'Brien a quiet title action means that there is uncertainty regarding who has legal claim to the property, and someone (likely an investor since 1528 N Leithgow St is a 500 sq ft vacant lot, not a house) is trying to buy it or establish their claim to it. 

There is a Mortgage Recording Tax of around 2.175%So imagine you buy a property worth $2 Million, put down 20% or $400k.Then you create another lien, say $500k.That will cost you $500k x 2.175% = $10,875.Further, if you really want to make this a valid loan, you would probably create a LLC, fund it the $500k, have it establish the new lien on the property, let it get paid the Interest.Now you will have to pay tax on the Interest and filing fees for the LLC and have a CPA do your Tax Returns.That might be worth it to someone, but to me, it's a little over kill when you can just get an umbrella policy for less than $300 per year that will cover you an additional $2 Million.

. - Established Portfolio. 

You should establish a relationship with a local title company.

This method requires you to have a lot more cash since you gotta be out of pocket with cash before you get your money back to recycle and proceed to phase 2.The HELOC route is the because once you establish the line of credit you can pull it or use it at will, but the downside is the HELOC is only based off the current fair market value (FMV) of your property today so you cannot borrow against the after improved value (less access to future equity).

You have to establish Liability or some contractual violation and that does not seem likely based on the limited info.