I repeated the process in 1984, bought another triplex for $180K with ARV of $250K a year later, after almost 100 searches, this time partnering with my M-I-L investing $100K, with each of us contributing $50k each.

The same can be used in design house as well (usually taken by insurance company) where this process is all being done manually currently. 

Instead, they acquire properties primarily through the foreclosure process when borrowers default on their loans.

It is a very straightforward loan, very easy process.

I’ve qualified as real estate professional since 2021 and just found a potentially good opportunity to acquire a property in Mexico that would make for either a solid STR and/or eventually our forever home.I’m completely new to acquiring a foreign property- how to finance, what purchase process looks like, how foreign STR is taxed, does real estate professional status matter, etc. 

If you have been through a similar process or have contacts, it would be great if you can shed some light.

If you have navigated a similar path, what strategies or precautions would you recommend to mitigate financial risks and ensure a smooth refinancing process?

Presently, as part of the lease signing process, I ensure to thoroughly explain this clause to new tenants and obtain their initials for acknowledgment.

Our process, supported by our lease, is If they have stopped paying rent, we notify them that a late fee is due after the 5th of the month.

So to that end we would supply the up front cash to build and the government would pay us upon completion taking away the whole draw process.