It is near US, everyone speak English, ROI are around 13-20 %,Mexico is the second home of 2 millions of Americans, and the Playa del Carmen city wins hands down Vs Cali on weather, nature, safety, things to do and nightlife.

One thing both my partner and I have been saying is that we have to look for solid, income producing, recession resistant deals so that we will be in the game when the best deals come around.

Resist the urge to interrupt."

I've done SO many updates to the house, new flooring, new furnace, new central air, weatherized.

Absent some special circumstances (not likely considering there is a $0 or low mortgage balance), there is literally no incentive to sell pre-auction... the auction company has a guaranteed sale and the owner knows that participation will be great because the property WILL sell on auction day.As a bidder, hope for bad weather.

If the weather were nicer I'd probably consider moving back but I certainly don't miss those winters.

@Spencer GrayThe immediate play is to cut expenses by fixing exhorbitant Water/sewer bill.Immediate planned rent increase by $100/unit as is still below market.Near term interior repairs is mostly to satisfy point of sale requirement per the city.We will resist over-renovating as there may not be enough return on the upswing in rent.I’ve seen the data you referenced re declining population.It just doesn’t bother me a lot when you’re investing in a large metro.I would be more concerned if you’re playing in secondary markets.

I hear if you don't apply it right you will end up with a messershmitt.Sorry, I couldn't resist. 

I would even resist the urge to just break even, you never know how long a dip in the market can last and you don't want to already be hemorrhaging money when (note: I didn't say "if") it happens.Another thing to worry about with Condos is that there could be restrictions to leasing it out because of the HOA.

There are 2 ways to fix this: 1) replace the weather stripping in the jamb of the door or 2) replace door.