The part that goes unsaid for those that toss around BRRRR like it is some easy, push the button transaction is that most properties that would work for a BRRRR do not qualify for conventional financing.

Let's connect so I can show you my off market inventory!

It seems that those areas are full with new inventory. my concern is that is too close to the Mexican border and that there are many lands available for new construction.

Prices and rents continue to increase steadily.Sales - $/SqFt by Month(Click to enlarge.)The median sales $/SF was up 9% YoY and 6.7% YTD.Rentals - $/SqFt by MonthRents rose 4.3% YoY and 6% YTD.The Market Remains HotFollowing the rapid inventory decline starting in Q1, the number of days on the market for sales remained below 17 and for rentals below 19, indicating strong demand for both.Sales - List to Contract Days by MonthRentals - List to Contract Days by MonthRental trends tend to follow sales.

Less infrastructure buildup, high turnover compared to conventional office but much less work than events etc. 

I took out a conventional 30 mortgage on the property.

Big developers where not investing as much anymore, land flippers where left with unwanted inventory and if you for example now wanted to do an agricultural business and bought land in some places, the math would never makes sense.The good thing is as you mentioned some small towns are thriving because of the expat presence, similar to what happens in the US with "gentrification" the expats attract the digital nomad crowd that works from the beach, surfs, love great coffee shops and restaurants etc.

Conventional is an option but conventional have longer seasoning requirements and won't allow LLC vesting.

Interest rates on land contracts are usually at or above current conventional mortgage rates to compensate for the seller's risk.How much is typically asked as far as a down payment?

@Nick LongI think you're overcomplicating this... if it's a fixer, once it's rehabbed, just refinance it into either a conventional investment loan, or a DSCR loan.DSCR loans don't have the 12-month clock - you can usually refinance 90-180 days after purchase.