Each has its pros and cons depending on your specific goals, but if anyone is interested in knowing my point of view and what I think might happen in the medium and long term I’m happy to share it in private.P.S:I am not an expert in statistical analysis, I hope this helps here are the sources of information: https://www.lonelyplanet.com/articles/tulum-mexico-digital-nomadshttps://everythingplayadelcarmen.com/population-of-playa-del-carmen/https://www.airdna.co/https://www.lajornadamaya.mx/quintana-roo/177934/tulum-encabeza-preferencias-en-zonas-arqueologicashttps://realestatemarket.com.mx/mercado-inmobiliario/32231-vision-general-de-tulumhttp://sedetursys.qroo.gob.mx/ocupacion/ocupacion2018.phphttps://ftnnews.com/tours/42946-forwardkeys-top-travel-trends-of-2021https://www.estadisticas.inah.gob.mx/http://sedetursys.qroo.gob.mx/ocupacion/https://www.eleconomista.com.mx/estados/Quintana-Roo-registra-la-mayor-tasa-anual-de-crecimiento-poblacional-de-todo-el-pais-Censo-2020-20210127-0108.htmlhttps://londondailypost.com/top-travel-destinations-to-visit-in-2020/http://sedeturqroo.gob.mx/ARCHIVOS/COMO_VAMOS_ENERO_NOVIEMBRE_2019.pdfhttp://sedeturqroo.gob.mx/ARCHIVOS/Como-Vamos-202001-05.pdfhttps://qroo.gob.mx/sedetur/como-vamoshttps://mexiconewsdaily.com/news/cancun-airport-record-flight-numbers/https://www.forbes.com.mx/brand-voice/ad-turismo-wellness-un-viaje-al-interior/https://www.forbes.com.mx/ad-green-school-futuro-educacion-sustentable-zama-desarrollos/https://www.greenschool.org/http://www.datatur.sectur.gob.mx/SitePages/Visitantes%20por%20Nacionalidad.aspxhttps://www.reportur.com/mexico/2021/07/17/futuro-aeropuerto-tulum-podra-recibir-4-millones-pasajeros/https://www.elfinanciero.com.mx/empresas/2021/09/21/tren-maya-sale-re-caro-se-dispara-47-su-costo-y-suma-5-meses-de-retraso/#:~:text=Actualmente%20su%20costo%20es%20de,de%20pesos%20con%20IVA%20incluidohttps://en.wikipedia.org/wiki/Municipalities_of_Quintana_Roohttps://www.travelandleisure.com/trip-ideas/i-moved-to-tulum-during-the-pandemic

I've never needed credit cards per se myself, either, but they are a way to build a credit history.

The area in the SE part of town between San Mateo and Eubank is one of the highest density areas for multi family properties, but these issues are prevalent there which makes it a particularly challenging sub market.

I don't do it near a college per se but it is a city I think has a decent amount of business.

It comes with drawbacks such as financing risks and does not offer asset protection per se, it just limits the damage to the property like a firewall.Consider an umbrella insurance instead, you should have one anyway.There is a place for LLC's in MF and also you will be required to hold property in a legal entity for commercial financing.

I don't ask for upfront payment, per se.  

Therefore only $50k is subject to tax as ordinary income, and even less SE Taxes.

I hadn't thought about zoning, good point.I'm not worried about which option will make more money per se, I'm just wondering about the technicalities of converting, and any relation to investment financing.  

Perhaps we can help each other meet our goals at some point in SE Michigan - welcome to the community. 

Even I limit my our fund's lending to certain jurisdictions (mostly states in the Midwest and SE) that we really know well.