Owensboro, the state's 4th largest city, has a population under 100K, and many OOS investors prefer cities with at least 300K residents and strong job growth.

Our biggest challenge is that we are not over 55+ and we would prefer to invest our money in the villages itself.

I don't go above 70% generally and prefer mid or low 60s. 

Doing this will give you a lower interest rate, which is why I prefer it to getting a longer amortization and paying extra on the principal.

Anyway, you mention you've "developed a strong foundation in market analysis, design, and project management", which are all important in the development space.My question, what areas do you feel you are lacking and are either trying to develop those skills yourself, or you'd prefer to bring someone onto your "team" that would provide that expertise? 

If you prefer to be close to the restaurants, bars and nightclubs, you might be better off in or closer to the town although Tulum isn't that big so you have access to everything from the beach area as well.

I find land lording experience to be more work and stress than I would prefer with small kids, but that it is still a nice defensive portfolio position.

I have preferences but not set on any market in particular.

Some prefer to rent.

If you have plenty of money then it probably wouldn’t matter how much the property costs, but for a $1MM+ property I’d personally want at least a 6-7% annual return through cash flow (15% or better preferred) and a pretty good idea that it’s going to appreciate solidly.