This month I will be setting up the Mexican corporation to be able to place offers and purchase real estate. 

You could improve and seller finance the land to blue collar workers that make decent income.

@Curtis OsaweyStarting with Section 8 housing can be a great strategy, especially since it provides consistent rental income.

Another downside is you loose on the advantages, of the Federal Tax Code, by not closing in the name of a LLC (you can elect to have a LLC taxed, as a S Corporation which is a whole other conversation).If you want to close in the name of a LLC, Mortgage Lenders will offer you Commercial Loan Terms (25-30% down, a 15-25 year amortization, and a ballon due in 5-7 years).

Wyoming has no state income tax.4.

The key is ensuring the property can generate enough income to cover the payments and any renovations you plan.As for pulling out equity later, this depends on the agreement terms.

now, if you want to buy an STR as an investment, and you NEED the income to support it, that's totally different...

I then did some wholesaling, land flipping, did some more buying and am now just doing lending to build up active income.

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You both have W2 jobs - so you're likely not a Real Estate Professionals - so these losses will be passed on until they can be deducted from other passive income in the future.