I have a similar perspective, as I am right on your heels with the same decision, so I'm naturally inspired. 

My due diligence process was certainly tightened up after that deal and analyzing properties and understanding what things will cost is now 2nd nature to me. 

And they did it for years before my family bought that ranch.Many my age born in the 50s we did work in Ag in the 60s  I lived in Cupertino CA and I cut Cotts in the summer.. thats splitting apricots in half and laying them on a big wooden board to then dry naturally in the sun out doors.. hard to find REAL dried apricots these days U can still find them in Trader Joes though.. 

From talking to locals, there's a couple of issues than need to be addressed, some are the non-ecological practices that some of those developers have, unfortunately, our government profits from this investors and allows them to destroy manglers (which are the natural water purifying system of that area) dismantling hectares of mangroves and degraded the habitat of resident and migratory species burying animals alive.There's proof of fecal material floating beneath the city of Tulum, only 20% of the water is sent to the water treatment plant, there's no infrastructure for the exponential growth.The landfills in the middle of the jungle that is leaking hazardous pollutants into the freshwater system and that something that developers won't tell you.I love my country and it would be a disaster for everybody if this place ends up like some other great beaches around the world, that are completely ruined by greedy investors not following the rules.There's no urban or comprehensive master plan, and one of the risks is that Tulum will be like Playa del Carmen is today, overgrown and with environmental devastation.I will advise doing a lot of research before getting something in Tulum, different country, different rules, and practices.

The market can be tricky with its block-by-block nature, but it's been a great fit for all-cash purchases like yours.I also have a team on the ground in Detroit that helps manage everything from finding deals to overseeing rehabs, which is crucial for out-of-state investors.

The contract says - RESIDENT shall be responsible for disposing of items of such size and nature as are not normally acceptable by the garbage hauler.2.

Tools were recovered and pest control was terminated.So we are naturally in a very secure area in one of the safest cities in CA.  

So, back to the original question of what if you just found natural buyers for homes?  

I also assume a 3-4% yearly rent increase, which naturally increases the vacancy and repair amounts over time.

I think comparing to the two-- syndications vs index funds-- is too difficult because of the nature of the specific RE under the syndication versus the broad economy(global and domestic) the index funds capture.