Couple of positives about the property (there are 100 000 plus units with pretty much the same nrs):- rent to section 8 tenants only, screened by us, so backed by the government. - inflation adjusted rent (might be a pretty good plus in the years to come). 

As to for what I know this only applies to companies, or family offices (patrimonios) that are adding bit by bit more properties in their portfolio.It indeed can give you a huge tax break, however, talking with somebody some weeks ago that just got 7 properties buying one of our apartments in Valencia, he was also getting worried - with COVID the government (not sure if that was only in Cataluña or for the whole of Spain) is lowering the conditions the # of properties you need to own to be seen as a 'gran tenedor'.

Brick and mortar was already suffering because of Amazon and I think it will get worse once the government grants and loans dry up this summer. 

The Government has pumped so much money in to the economy lately, and that money is about to slow down, and once it does don't you think a lot of the "hotness" we see now is going to go away very quickly?  

Three towns that do essentially the same thing charge $45, $100 and $250.It is relatively easy to inflate the cost of an inspection when the government cites the need for computers, managers, offices, etc. 

As @John Mocker mentioned the NFIP or (National Flood Insurance Program) some refer to it as FEMA I call it the government policy.

Mortgage applications are way high.Also consider these facts:  the Millennials are saddled with incredibly high debt, both personal (college and credit cards) and inherited debt (printing worthless money to cover the government's deficit spending).Anyone claiming to know the direction or pace of events will probably lie to you about other stuff, too.So I tell my clients, "These are strange times, and no one can predict the future with any certainty. 

I figure in the age of COVID I'd rather have a tenant who can earn money from home as opposed to someone whose income or business can be shut down by the government.

As part of the transition process we were able to move the homestead to my sister instead of losing it to the government, and created a trust to protect my mothers living situation from everyone who wants to get paid for misfortune. 

First off, I would see what the requirements are from the local government municipality.