Most of the tourists in Tulum are millennials & generation X, not as many baby boomers, I own property without an elevator in Tulum so I know...

Problem is only "RE pros" get to do it.There are 3 income classifications in the US - Active, Portfolio, and PassiveActive income is income derived from your job, or normal trade or business.Portfolio income is derived from bank instruments - stocks, bonds, etc.Passive income is income earned from investments.Active losses can wipe out both passive and portfolio income, but it doesn't work the other way around.Portfolio (capital) losses are limited to $3,000 annually.Passive losses can only be offset by passive gains.Real estate rental income by its nature is deemed passive per IRC Sec 469One way to get around it is to become a pro - spend more than 750 hours or 1/2 your time in real estate.But most folks aren't real estate pros.

If you are buying a high cost property with litle to no cash flow, you likely don't have to worry about paying tax on rental income since your depreication will wipe out any cash flow from being taxed.

I can see cobwebs in a corner, dirt on the baseboards, cabinets that haven't been wiped down, etc.

Quote from @Eric Mcginn: Long time BRRRer here, planning on leaving my W2 soon to pursue flips (and raise my babies)   Ive read the BP book on flipping.

I am confident that “Drill Baby Drill” (aka reducing the price of oil, aka reducing everything that is transported) will directly impact the cost of goods thus increasing tenants and buyers purchasing power.

Dual agency combined with limited services, combined with bottom-feeder employees, means you will get wiped out by lawsuits.  

So one major repair can wipe out a year's worth of profit.

Also Ca tax sales wipe EVERYTHING out the only reason for a pre lim would be a access issue.. which of course one can do on their own..

And i have seen other do it like i said in San Antonio only to have that operator get in major trouble with the state and the investors get wiped out.. there is more than just YOU buying a home without an investor putting up the dollars to buy it.