There's actually a huge oversupply of properties in Tulum and none of my friends who own property there make anything close to that!

Look for distressed properties or FSBO signs.

Is the process the same as buying property in Canada?

I am very conservative so I want to be careful in how I frame expectations. 

If the property is vacant, you will attract a larger pool of buyers as not everyone looking for a house wants to use it as a rental.

Focus on absentee owners and start with the ones who live the farthest away and only own one property in the area since they have the least use for the property.You can also drive for dollars, looking for anomalies of disrepair and then look them up in the tax records and use a site like Spokeo to do cheap skip tracing.

If the property is vacant, you will attract a larger pool of buyers as not everyone looking for a house wants to use it as a rental. 

Going to property tours inspired me to obtain my real estate license in the state of Georgia; and look further into property investing and helping others achieve their real estate goals.

I would recommend having the property assessed for any damages—were the windows or doors damaged during the forced entry? 

$1,500-$1,600 is about the going rate for a 2/2 in most average areas of BR, but I can see where some neighborhoods would get more.Another thing to think about - if the property is sitting vacant right now and you have ready and willing (and qualified) tenants, then the opportunity cost of waiting an extra month or two is $1,550/month.