And by going 50/50 on a property that I have worked so hard for, and have all of the risk in, feels like I have shot myself in the foot.

There is not as much foot traffic and can be cleaned between tenants.

The reason condos make more sense than SFH same foot print, better density.

How many homes under 900ft are sold (and not flipped again with larger foot prints) in the market.

I told them I won’t be proceeding with the lease and feel so relieved!

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.

I would encourage you to look at the dollars per square foot, that the other property sold for and compare it to your property’s dollars per square foot cost.Otherwise, my general feedback is two-fold… the signals we are getting from the Fed are that they are likely pausing rate hikes.  

Here's exactly what I'd do in your shoes: 1) Build a solid team -- Agent, PM, Contractor, Handyman, Lender (all local pros)2) Invest in a Turnkey Duplex or SFR just to get your foot in the door and learn the area3) Then, with money left over Invest in a BRRRR and recycle that money indefinitely as assets appreciate / force appreciate4) Acquire a large fleet of Indianapolis rentals as the city continues to expand. 

I was using $1.50/sq foot as a rough estimate (I think I heard it from Meet Kevin).

House has a claw foot bath tub the tenant decided they wanted a second shower instead.