When it comes to supply, you want to avoid oversupply, as it's the best one-way ticket to losing (a lot of) money.I'd avoid Tulum with a 10-foot pole as it's already hugely overbuilt and it's going to get much worse in the coming years.

It is a 1270 square foot house with 2beds/1 bath.

about $50-$75 a square foot 

It won't be amazing but get your foot in the door

If your friend is ok with breaking even on his mortgage and not concerned with cash flow, it's a great way to get your foot into the South Florida boomLet me know if you have any qs

My Wife and I purchased a 4+ acre property with a 1930’s 3 bedroom, 1 bathroom, 1200 square foot house and a large wooden workshop.  

I belive the big misunderstanding is to think you you grow your cash flow linear until you reach 11k, like a ramp.

I get MTR leads from Airbnb and do bookings through the airbnb platform.I use apartments.com to manage my Long term tenants and collect rent.What do I need to keep in mind for starting off on the right foot for book keeping?  

MLS data - average days on market, median cash flow, median rent, median price per sq. foot

I used a 3 foot spray shield and only taped off doors we did not want to spray.