The state should prepare for a dramatic decrease in property tax revenue. 

Even though there must be one; I don't know what structure or feature (other than a community pool) could be built on the property to dramatically enhance rental rates.

Population increase further boosts demand for an already short supply of affordable housing (most recent market report showed just above 2 months of inventory available!!!)

The rental market has changed dramatically since they moved in 20 months ago.

Every time they have announced a boost, my rate has trickled up.

This is a common predicament for self employed borrowers.Your CPA is always going to do everything they can to help you reduce the amount of money that you 'made' on paper.Your Lender is always going to want to go off of whatever your CPA says that you 'made' on paper.If you can prove that some of those business expenses were 1 time expenses and will not be likely to reoccur, the lender should be able to exclude those specific expenses which would give your net income a boost.

It's limited by weather and performance is dramatically exaggerated by everyone in the chain.

This last document, in particular, if reasonably accurate, will reveal the true financial health of the HOA, and the potential for future Special Assessments or dramatic fee increases.

you've clearly analyzed it, but i'm skeptical that a 10K rehab would boost the value from 150K to 210K. 

The completion and operation of the Tulum International Airport and the Mayan Train are expected to boost demand.