There's actually a huge oversupply of properties in Tulum and none of my friends who own property there make anything close to that!

Through a hard money lender, but I will take out a DSCR loan in March to refinance.

Now solely as a lender, i actually reverted back to it in unison with our mortgage origination software. 

Being able to purchase a property with only 5% down means you can leverage your money way more effectively.

I would love to explore the rest of the US - if I had the money.

You can still achieve it, but finding deals that actually pencil out on all criteria (low enough purchase price, low enough renovation cost, cash flows on the backend, all cash out at refinance) is pretty hard.

However, that was a fluke.Warranty companies are in the business of making money.

Also DSCR typically has pre payment penalty while hard money does not. 

Do you have money set aside?

Originally posted by @Max Gradowitz:I'm in CA and the most common LLC-related question I get is "I live in CA, I want to buy properties in other states, what state should I open an LLC in so I can save money?"