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

So focus on lead generation.Once you have that covered, then yes you do need to have a bit of insight on the workings of the transaction.But all this should be easy to figure out the moment you keep commonsense in play.Start with getting in touch with a wholesaler-friendly attorney for your closings (if you are in an attorney state), and build a relationship with him (that is also what I did)..He should guide you along the way as you go.

Ben Franklin used similar advice to turn an enemy into a friend (although his was asking to borrow a book).There are some caveats here, you cannot be wasting time thus you need to demonstrate that you are taking action. 

Make friends with some bank presidents, seriously.

If they know you, have spoken to you many times, and you have always been friendly with them, just explain your points, that there is no legal reason to deny your plans, and ask them what you can do to help get it approved.

Then came Dale Carnegie’s How to Win Friends and Influence People.

The LLC is a partnership between myself and another friend who's also an investor.

I hope to continue to network and make new friends in the real estate community.

@Greg ReeseMost small investors will benefit by having the LLC created in the state where the property is located at.Creating an LLC in a state like Nevada, Delaware, Wyoming may be better for the big players if items such as charging orders, business friendly case law, anonymity are important to you.However, be mindful that setting up LLC's in those states will add to your costs as you may have increased annual fees for annual LLC fees + registered agent fees.

"Before borrowing money from a friend, decide which you need most".