Land area spans from Rio Grande City to South Padre Island.I think it's not heard of often bc we're not as mainstream as other big cities and we are also a border town so cartel violence tends to be the issue that comes up.. but Mcallen has actually been ranked top 3 in one of the safest cities to live in in 2023. 

Be prepared for maintenance and repairs, as well as dealing with tenant issues and potential vacancies.

From my research and connections, it seems like this is a fairly common structure in the hotel world.

I recommend checking with an investor-friendly lender that you won't issues with obtaining a loan on your 3rd and 4th purchase because your DTI (debt-to-income) ratio may become too high. 

It appears that the advice you are seeking should be coming from, in part, a real estate attorney who can navigate the issues you are dealing with (especially in light of the consequences across the ocean).

I am currently living off a small amount of self employment income, savings and 401k due to health issues so I don't go on the financing per my lender. 

If payment isn't made OR if they aren't bought out in time, they own the common equity 100%.

Check to see how many they failed and what the issues were.

Sorry you are having to deal with this issue as a new landlord.

I only do long term rentals so I shouldn’t have an issue with that.