I know people who currently have that, it started a generation ago and probably ends next generation, it's hard to maintain this more than a couple generations because the politics, religion and underlying values can't hold across hundreds of extended family members.The same goes for business/way of life.

I think that's exactly what I would want to do, but I'm clueless as to how much such a bedroom conversion project would cost.

Once you have a steady cash flow and a better understanding of what goes into renovations, you’ll be in a stronger position to move into MTR or consider a fix-and-flip project.

However, most lenders have no desire to deal with that which is why they work with experienced and proven investors they are confident will drive the project to its finish. 

I just know that some money is frozen and they are not taking new projects.  

Project cost: $510K, with an ARV of $750K.

Additionally, the property’s location in Rolling Prairie, IN, aligned well with our investment strategy, making this a promising project for collaboration with our partner Ron Rowan.

If you're confident in managing the project and timelines, this could be a worthwhile venture.Need guidance on financing or navigating your first major flip?

You'll spend a lot of time (sounds like you may have already) spinning your wheels in trying to find the right lender, whereas a solid broker can pair you up with the right fit right away and get your project moving. 

You can't compete against the all-inclusives unless you offer complimentary food and booze or you're cheap, as you seem to be confirming.This being said:1) Properties in Mexico/Cancun trade in USD so you have no foreign exchange risk in Mexico while properties in Colombia are traded in COP, the Colombian peso, which has been tanking over the years, eliminating any hope for capital gains for American investors.2) You can get a mortgage in Mexico but you can't in Colombia so even with lower revenue, Cancun would likely still be more profitable, even if you don't take capital gains into account.3) The political risk is much higher in Colombia, especially at this present time.Is Cartagena a bad investment?