So if I understand, you would get a loan the normal way and then the bank trust is an extra fee that comes along with owning the property in Mexico?

Just google the following: - special assessment - zombie condos - Florida condos (look for recent news)Since you are not living near the properties anyways, why not look in a landlord friendly state where the purchase prices are lower?

This would be my first real estate investment, making the decision even more critical.I understand that backing out would mean losing the $2,000 earnest deposit.

My understanding is profit from lending is considered "taxable income" and is therefore added to your income and subject to your normal tax rate after all deductions, etc.

Anyways, I'll be following this and the other threads.

Please review the entire build contract to make sure you understand each section.

Are you a US citizen who understands how things work legally in the USA?   

From my understanding, based on my experience buying and selling properties in Texas, any known repair or damage—even if resolved—should still be disclosed, along with a note explaining that it was fixed.

I’m glad you were able to move on without signing, shows the agent understands/is a good guy/gal, or knows other firms wouldn’t require such a signature. 

Since you missed the 2 out of 5 rule, capital gains taxes might take a chunk of your profits, so consulting a CPA would be smart to understand how much you’d actually keep.