We have a great real estate agent but he only knows what he knows and can't predict the future.

He will do some small cosmetic projects, but nothing too involved as far as rehab goes. 

Once you get some capital and experience, then progressively step up to bigger and bigger projects.

We replaced the old roof as part of the project and had the interior walls primed (with Kilz) and painted. 

As a general who does a remodel project for a seller but the arrangement is to get paid at closing.

If it were me I'd offer her a couple of hundred dollars cash to be out asap, and screen more carefully for a better renter in the future. 

The tax implications in the future will be this: less depreciation after year one (not by much as transient property is depreciated over 39 years not 27.5) and if you ever sell the property you will have significantly more depreciation to recapture. 

My wife and I are looking to invest in existing or project-stage vacation rentals in Mexico / the Caribbean.

Initial Investment Length of Investment (Years) Shares Class A Preferred Return % LP Profit Split Class A Waterfall (Y/N) Waterfall Details Reinvest Earnings Option (Y/N) Physical Real Estate or Note Only Refinance Projection (Year) K1 Loss (Y/N) Yearly Interest Earnings Performance Average Annual Return IRR Refinance Return of Initial Investment Year 1 Tax Loss Effect Net Return (by Year) Total Return on Initial Investment

Think I may be in the market shortly looking for another project.