There are extra expenses in Mexico, like the fideicomiso (a trust required for foreign property ownership), which isn’t necessary in Colombia.Every market has its clientele—some families prefer all-inclusive resorts, while others are specifically looking for alternatives.

Since this is a family property you likely know it inside and out during your ownership so it should minimize the number of calls you get and glitches in the unit.

Take ownership of your mistake and learn to do the proper due diligence recommended above😊

I have ownership interest in two properties on Staten Island, but they were purchased at a point in time where the numbers worked. 

Have you surveyed the EV ownership rates among the renters in your MTR area?

You aren't getting any payments, but you do have ownership and any equity upside.Some markets do not produce any chas flow/yield.  

You can still have an operating agreement that everyone agrees to and it will accomplish the same thing.One thing I forgot to mention is what I did with a business partner is we have 50/50 ownership, but one person has 51% decision power.

@Glen Michael we charge an onboarding fee to owners, which they ALWAYS complain about, but they don't want to undertand why it's so important.We use the funds to check:1) Ownership: we verify property is actually properly deeded to their name, LLC, etc. - We've found issues where owners was NOT on the deed and was scammed- We've also had to patiently explain to owners that since an LLC owned the property, that the management contract had to be in the LLC name and we needed proof they could sign for the LLC.2) Property Taxes: we make sure we know the status, to avoid tax foreclosure issues.- Took over several properties for an out-of-country owner last year that we're in the midst of tax foreclosure.

CoCR is only calculated in the first year of ownership. 

@Colleen Sutherland Congrats on your first house hack, sounds like you're already learning a lot about ownership in properties and looking for your next deal.