There is little to no regulation.

There were numerous reasons including I was cocky (I expected with my level of rehab experience I would never bust budget substantially).  

There are no laws, rules or regulations preventing any foreigner, American or otherwise, to buy property in CDMX or Mexico for that matter.If, by having success, you mean getting a profitable investment, I'm sure many American and other investors got that over the last few years (I personally haven't since I've focused my efforts on Mexico's beach markets, which are far better in my opinion.

My county passed a new list of regulations last year.

WELL, first check local and city regulations. 

Wow, we have numerous lenders that will refinance properties which have been rehabbed without a one year seasoning requirement. 

Section 8  is a HUD-funded program but there are no universal regulations.

While I understand that there are numerous variables in flipping homes, this change in approach really stood out to me. 

A cash-out refi could result in less tappable equity and potentially higher rates compared to a buyout.In our experience working with numerous clients going through a divorce, most have had to pursue a buyout or sell the home, with very few able to successfully assume the loan.

Also, you must familiarize yourself with local laws and regulations regarding STRs to avoid purchasing in areas that are not STR-friendly, which could save you from legal headaches and poor investment choices.Another critical strategy is staging your home to appeal to your target guests.