However, like others have mentioned, you will be in major trouble if the seller goes through a divorce, files for bankruptcy, or notices that you haven't recorded the deed and try to sell the property again. 

I’m very skilled at construction job costing, inspections, design, and management.

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.   

I'm currently aggressively vetting property managers.

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

I believe Brokers need to be having meetings with their agents and discuss these things at length Managing Brokers job to make sure their agents are being managed.  

Needless to say, properly manage your tenants and you'll be fine.

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! 

Also self manage everything.