IE the loan we got for our coast property requires we use it a minimum number of days per year and cannot lease it out either directly or through a property manager for STR use, for a period of time.   

And if anyone who is out of state, also does the management yourself?

I'm currently aggressively vetting property managers.

Requires a bit more management but makes more sense given the current legal framework.Happy to chat and share info on the market if you are still exploring investing in Madrid Real Estate.

I work on the Property Management side of investing and we have plenty of rentals we manage in the Section 8 area (over 250+ doors in Greater Houston), I'm happy to answer any questions you direct message me for some an insight! 

I saw other Property Management Software that seems faster.

You can also get a lower rate on a 30 year fixed and even though its a 30 year loan there is No prepayment penalty so you can pay as much as you want but not obligated to pay more.A Heloc is a credit risk and can "never" be used as an asset or PITI reserve which is required when buying additional properties.

Any reasonable Property Management software will help you keep track of all these regardless of what bank you use.

During the Due Diligence Period, the Buyer shall have the right to conduct, at its sole cost and expense, any and all inspections, examinations, appraisals, surveys, environmental assessments, and other evaluations deemed necessary or appropriate by the Buyer.Financing ContingencyThe Buyer's obligations under the PSA shall be contingent upon obtaining financing in an amount and on terms satisfactory to the Buyer, in the Buyer's sole discretion.

Third, tenancies in room hack situations are very hard to manage.