moving to Spain without a pre-arranged job?... (Madrid)

Hi guys,
I’m not quite an expat yet, but seriously considering it.
Over my numerous extensive travels across Spain I discovered that I love everything about the country and really want to make the move this year. Also, the real estate market in Spain (from what I’m seeing) is at its lowest point right now and there are great deals to be had.

However, I’ve been looking for a job in my field (or anything remotely related to my field) in Spain for few months now, but nothing has so far materialized. I think it’s going to be very difficult for me to find anything (especially ahead of time) given my very narrow field of specialization (I’m a lawyer specializing in Canadian immigration law).

So, my 2 questions would be…

1) Assuming one has enough money to buy a decent property and enough savings left over to live on for at least a year, would you say it’s reasonable to move to Spain without having a job offer in hand (or even a clear idea as to what direction, professionally, to take after the move)? Have any of you done that?

2) I’d be interesting in hearing from other professionals who moved to Spain without a job offer and without a clear career direction in mind (because their skills weren’t directly transferable) but who somehow managed to establish a new career for themselves over there… how’d u guys do it; how’d you manage with limited Spanish language skills (at least in the beginning); etc.

thanks in advance for all replies!