Prices for studio apartments (circa 80 sqm) go for about 200K in Malta and could generate about 20K cash flow per year.The reality is it is a good 2nd investment, however I would not be able to reach financial freedom with 20K per year and I would also not be able to scale up as bank would not lend more.Is someone able to offer some advice for someone who is in a situation like me?

If you were in my shoes, what would be the best course of action you would take in order to attain your first property, get the rental income generating so I can eventually with time generate more properties and with more properties, more cash flowing in.

If you want to keep investing in real estate then use the tax free dollars to buy two properties - a small house for cash that you can actually generate positive income off of. 

Instead, look at the cashflow and equity position that a particular investment can generate.

Also, know that commercial lending departments (of local banks) use the revenue the property generates to evaluate the loan viability.  

If you invest in a passive investment and generate positive income, you won't pay tax on that income so long as it is covered by the suspended passive losses.Best of luck

Between 2011-2020 I assisted family members get into real estate and provided operational support (marketing /business generating activates).

Example, I want to generate a list of all homeowners (not renters) in a particular community or city, either, whether they live in the home or not. 

My goal is to generate enough passive income one day to retire. 

Invest early to generate wealth is the key!