The 1 out of 10 who are successful are investing in markets that they were already familiar with or have personal connections to (they used to live there and know the neighborhoods, have a family member who currently lives in the property helping them manage it, have the very best real estate agent, handyman, and manager ever (very, very rare in all 3 professions) etc.).

Becoming familiar with how treasuries work also gives a lot of insight into how mortgage financing works because mortgage rates move with the 10-year treasury most of the time - so following the 10-year will give you insight into the real estate cycle as a side benefit. 

I already love the place, but if I were speaking to investors who were not familiar with Mexico or Tulum, what points have I forgotten?

Hello everyone.I've seen many investors using this website and it actually seems very useful and accurate.The issue is that their subscription is very expensive (for me) and I'd like to know if someone if familiar with a shared account of a promo code that I can use.?

It will familiarize you with the basic terminology and benefits.

Does anyone know a lawyer there that is familiar with hard money loans and could update the paperwork ?

Initially I would become friends with several real estate agents that are familiar with the area you wish to invest in and who are also familiar with the ins and outs of a multi family property. 

For example, if yours has a pool and the other comparable doesn’t… maybe yours will be worth more…You need to reach out to local property managers, real estate agents, and fellow investors who are familiar with the area.

It's a good time to start exploring your loan options and setting yourself up to search alerts so that you can become familiar with the area, and start running the numbers :) it's a little harder to cash flow in the north side, but the appreciation is quite significant. 

I invest in Detroit as well, and it's a city full of opportunities if you take the time to understand it.A couple of quick tips: Get familiar with the neighborhoods—Detroit is very block-by-block, and the difference in property conditions or tenant quality can be drastic just a few streets apart.