I was kind of skeptical, but seems this city/town is good place for STRs based on your response.  

Feel free to reach out, I'm happy to chat and discuss options :) 

Hi @Alex Lee I would avoid 203K loan and work with conventional renovation loan based on knowing you'll be forced to use 203k certified contractors which will cost more money and offer inflated pricing because they must follow 203k guidelines. 

To remedy this for next time I am in the process of creating a design board that can be used as a base for future flips.

Bear in mind that the fiscal treatment of the two options in Mexico is different (withholding tax on the gross income with the fideicomiso vs cost deductions with the corporation).

My two favorite loan options for getting started are the FHA 203k or the Fannie May Home Style. 

On the RE side - I own/developed 2,000 residential units across the United States focusing on opportunistic residential acquisitions and development, including student housing conversions and luxury multifamily development.On the startup side - it is a third-party guarantor platform that expands your renter pool, increases rents and occupancy, and ultimately boosts your NOI while broadening affordable housing options for renters.

Most lending is based on cashflow, not the 2% rule (although still a good rule of thumb for some types of investments), might have the most help from the group if you provided some of those details here just so it'd be easier for us to help you best. 

Willing to go the extra mile here based on the numbers.Thanks!!

I'm a new real estate investor based in Calgary looking to network