STR investment in Mexico

[Robyn Webster]

Hi bigger pockets community! I've gone through some of the previous posts on investing in STRs in Mexico but still feel unsure whether this is a good option for me. For background I own two properties in the SF Bay Area - a SFH that I rent out and a duplex where I live in one unit and rent the other. These have been great investments so far and I'm eager to invest in more real estate. I'm looking at investing in a different area both to diversify my portfolio and because I don't have the cash or income/debt ratio to qualify for another mortgage in the Bay Area.

I have enough cash to purchase a modest place in Mexico and I’m attracted to Merida specifically because it’s a place I’d like to spend more time. I’m not in a position to own a vacation home just for fun so whatever I buy needs to be able to generate cash flow to make sense. I also have zero experience running a short term rental but enjoy staying in them while traveling. 

Does anyone have experience investing specifically in Merida they are willing to share? Any recommendations on real estate agents, property managers, etc they can recommend? Resources I can use to understand the market or estimate potential ROI? Opinions on whether this seems like a dumb idea? I