In the early stages of launching a search fund and trying to narrow down on location.

1. US (I'm from the US, and my partner's wife is from the US)
2. Spain/Iberia (my partner is Spanish, we both live in Spain, but I don't speak fluent Spanish)
3. other Europe (I speak fluent German, so we could cover DACH, or the Nordics with English)

We are open to location, but how much is local language a must-have for BOTH partners? I suppose it really depends on the situation/seller. Any postive/negative examples would be really helpful! Thanks.