If your current tenants are exceptional and the financial numbers still align despite the lower rent, there's something invaluable about the peace of mind.

If this tenant is allowed to get away with it, other tenants will look for special exceptions on things they want.Give tenant options where you win:1) Keep doing this and after a certain date the bike will be removed and donated to charity2) In the meantime, a daily penalty will be charged3) We can install a bike rack for you at your cost

The difference is the lender is not a bank, but an individual or abother companyThe purchasing process should be 100% the same for you as a buyer as it would purchasing any other property with the exception that you would want to get an appraisal (where as typically the bank would).

Generally speaking, the Mexican market is way less saturated than the US market but there are exceptions and a 3 BR+ property won't save you there.4.

No cash flow real estate investing can be frustrating to newbies... you are doing all the work, and not seeing any 'pay' for the effort except on paper where you property is worth more.  

Although, are there exceptions to this? 

Anyone who knows almost anything about Dave Ramsey knows that he is a big advocate of not buying anything except maybe your first home and getting into debt for it. 

Agree with @Jaren Woeppel except for one thing. 

There are those exceptions but most would agree working hard at it is required many not willing to pay the price or willing to stick it out over time.

Exceptions can be made for real changes in life circumstances like getting transferred far away for work, but expect that to be investigated.