Impossible to give you a good answer without knowing the property value.

I don’t want to start a political discussion, but with current events I’d be interested in moving my somewhat significant traditional IRA assets offshore before that becomes impossible.

It definitely would be near impossible in Utah.I wouldn't buy under 50k without any experience.

I have read a bit about how its difficult to BRRRR in Spain due to the banks in Spain basically making it extremely difficult/impossible to refinance a mortgage and take cash out.

This self-reinforcing cycle of decline has proven nearly impossible for most cities to reverse.Minimize capital required to purchase multiple properties.

My answer wasn't aimed at an actual answer, that would be impossible. 

Never built in Houston before so take my feedback with a grain of salt but I'd put money on it being impossible to build a duplex from scratch for $125 a foot (including everything from drawings, engineering, permit fees, general conditions, labor, material, landscaping).Out here in AZ the builder cost is going to be $200 a foot at best, but add 20% on top of that for the client cost.

It enables me to pool resources, leverage my partners' skills, and gain access to larger investment possibilities that would be impossible for me to pursue alone.

It definitely is a difficult time to invest in real estate, although I don't think impossible.

Point is, (a) it's all but impossible for the investment to go to $0 and (b) you have direct, impactful CONTROL of outcome. 2nd: Back to the CONTROL aspect.