Our portfolio currently cash flows, but cash flow isn’t our top priority right now since we plan to use this portfolio to supplement our retirement in 12 years when I leave the Army.My biggest challenge is committing to an out-of-state market.

For instance, if there was a total of $250K of debt on those properties that woud leave you with $350K of proceeds to use to purchase $600K of real estate.  

You can always leave and repeat the process and rent out your old living area.  

You also do not want to be too cheap and leave money on the table.If you do all of that you will be well on your way to being successful.  

I’d love to hear from you about any questions, concerns, or challenges you’ve encountered (or anticipate) when considering property investments in Mexico.

If you can't leave NY, I really wouldn't try to do a BRRR from that far away unless you have someone you trust who is local.

If the house has a septic system, especially if it's an older one, it's worth the investment to have a septic inspection done.This concern is particularly relevant for those planning to buy and hold the property rather than simply fix and sell it.

I also advertise before someone moves out to get a new tenant before the current one leaves. 100% occupancy on a LTR is very common for me.No idea on a MTR.

Quote from @Erick Pena: A "good" rental property is one that covers all expenses (mortgage, taxes, insurance, maintenance, property management fees, and any other costs) and still leave a surplus (commonly referred to as cash flow).Calculate cash flow as: Cash Flow = Rental Income − Operating Expenses − DebtThere's much more to it, but that's the basic idea.

For instance, you have to notify the state in writing if you leave a lender and tell them why.