And when people get tunnel vision for lowest $ down, they tend to not give attention to the revenue generation of it, the operations, and that's a VERY dangerous combination of high leverage and not so-good revenue. 

Most of the tourists in Tulum are millennials & generation X, not as many baby boomers, I own property without an elevator in Tulum so I know...

Hi Rod, The local bank's $200K cash-out refi at 6.875% isn't perfect but clears your HELOC/mortgage, provides scaling capital, and leads to a commercial loan for 5+ properties, solving your DTI issue and unlocking a line of credit for future growth.

Since the interest rate is already high, adding to it won’t drastically change your overall costs and will free up the liquidity you need for the new investment without affecting the low-rate financing on your multifamily property.Using the hard money loan to close on the new property could work well, especially if the property generates the $6,000/month you expect.

Are you tracking the leads in a physical format?

Even then, you would need to make an investment that would generate enough depreciation to offset that income.

Ideally, I would love to buy a multi-family property and rent it out, I would consider house hacking but I mainly want to my first property to be one that I can improve on and have it generate income for me.

Tying up a distressed sellers property then not producing any results for them can lead to the property being foreclosed on and the seller being seriously hurt financially. 

Acquired 1-bedroom rental property, generating 30%+ cash-on-cash return.

His goal is for members to generate a retirement starting in 5 yr's or sooner.