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Cut your losses the first time they miss a payment and start the eviction process.

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

I know that's not a huge cash flow, and any repairs could make me break even.

If you are taking out a conventional mortgage of any kind, you can't buy in the LLC as it does not have two years of tax returns.You are also asking if an entire state is good to buy multifamily, which means you are too soon in the process to even talk about buying.

BRRRR with a bang: If you can pull this off, the value-add potential is huge.

I would explain to them your process of handling requests, response times, property inspections, and so on.

@Phil SheltonYou would need a civil engineer to provide a drawing to get submitted to zoning and get a permit if it passes zoning is most common This also depends on the road - if it’s a state road forget it as it will take a year to get approved and cost a fortune - if it’s a local road process not as cumbersome but don’t expect this to happen quicklyIn some instances you may have to prepare sight distances etc to make sure it’s safe to add a curb cut

If so, does anyone have any referrals to help me with the process?

Welcome to the community and be ready for a huge amount of information at your finger tips.