I'd recommend working with a lender to get preapproved to really hone in on your budget, from there you can narrow down what types of homes and areas you can afford.

Joining BP is a great step, but when you've educated yourself and have met some folks, start talking to lenders and find a good investor agent... and start submitting offers!

The most obvious is that you will be able to offset your mortgage with renting out a few rooms.

is this something most lenders can do or do I need to look for specific ones?  

Tax Benefits Once Built- Deduct depreciation and cost of maintaining the property - Deduct mortgage interest if a loan is taken out

A knowledgeable realtor should be comfortable discussing these concepts and applying them to potential properties.Ask about their network of contractors, property managers, lenders, and other professionals who can assist with your investment.Taking the time to find a REALTOR with the right experience and expertise will help ensure that you make informed and profitable investment decisions.

I am a newly licensed real estate agent and already have a great lender on my team.

Alternatively, if you're able to put a good chunk down payment on a property and the rent(s) cover your mortgage + expenses + a touch more, in an area that you like and know will appreciate, that's pretty nice as well. 

yes, @Erwin Groenendijk:, I think banks are not as easy to convince for these sort of operations for individuals, but I want to explore all options like using partners (individuals that could and are willing to apply for mortgages) and other posibilities but using my company or creating one is not out of my options.I am not sure there is any current meet ups in Madrid, I have searched and not found much, I will keep searching... good to hear in Barcelona you have monthly meet ups.

When you have mortgage, insurance, tax, vacancy, maybe utilities, and maintenance you could reach a 20% CoC return.