This is an old post but may as well add my 2 cents. 

That's just because I've given the priority to Puerto Vallarta and the Riviera Maya (Playa del Carmen, Tulum and surrounding cities) because these markets have been more profitable.I've replied to plenty of posts on investing in Mexico so you'll probably find a lot of useful information and the answers to many questions you might have.

@Nathan G. great points and yes it adds up very quick to reduce the amount of income coming in each month, we are capped in California of raising too, much; however, we are going to get back some of the gap this May and increase it again next May as well. 

Do need to diversify...Figure, we need a place to live, may as well make it an asset.

Most agents have that type of contract.If you find and message the owner, they will send you to their agent anyway so you may as well talk to the agent. 

I know they don't technically own it, but in their eyes they may as well.

You'll have to talk with a lender at some point so may as well eat the frog rather than spend all day trying to figure out your numbers when the lender is just going to do it anyway

Like I said I like the idea but the math doesn’t pencil out for me when I look into it now but someday it may as the cost to convert go down.  

If you arrange the financing ahead of time you may as well purchase the property with financing.

Remove as much  contingencies as you can safely do AND write up an appealing letter with the offer  that could soften the seller if it doesnt work at this pijt , it may as rates continue to rise and soften pricesGood luck