And even if it was, the legal costs alone add up to a few tens of thousands of EUR for a property like this (eg. if the property is worth €500k, you are looking at at least in the order of €50k of legal costs and taxes...). But I don't know of any bank that would lend you 100% of the price of the property you want to buy, if you do please introduce me to them...

If it really was so easy, everyone would be buying these properties. But the upfront costs are simply prohibitive.