When I have asked the management company about the HOA board in the past they always fail to respond.

@Berna Geylani, you have just learned how the government works or rather fails to work well.

However, the market is currently crowded with cookie-cutter apartments, creating a lot of internal competition and pushing rental rates down.For short-term gains, I’d avoid preconstruction projects unless backed by bridge loans or completion guarantees, as many developers in Tulum have failed to deliver.

Many buy these over priced homes because they've failed to become homeowners by other means.

Unfortunately very few who seek out these assets take the time to consider their exit and fail to realize they are the most costly assets to exit, let me explain why: Here's how that disposition process to an owner occupant looks: -You will incur turn over expenses associated with vacating the tenant in preparation of the sale -The natural buyer in this price point is the FHA buyer who will normally seek a 5-6% seller assist  -Passing a Section 8 inspection/preparing a home for a low income tenant is very different than the expectations of a home owner,   particularly the FHA buyer who cannot afford to take on any deferred maintenance.

Or, are the failed projects going to kingmade investors that have "special" relationships with the lending banks? 

A lot of them didn't want to listen to sound advice from me, the person they hired, and projects went left and failed. 

If all else fails, but bars on the windows and turn them into prison cells.

I invested 5 figures into a failing note syndication (AHP) and theres a thread on BP.

It stopped when he lost a couch in transport when his roof rack failed.