Make sure to factor in any potential maintenance costs, like repairs or upgrades, especially since you mentioned a few fixes are necessary.

Michael, something I want to add to your spot-on comments; I see a lot of inexperienced STR buyers, buying a property to be a STR either on their own (FSBO or through the listing agent), or through a buyer agent that has little to no experience with STR's and who doesn't have a a great STR network, strategy, has no ability to analyze a property's STR potential, doesn't know how to assess and recommend remodel or what it will cost or how long it will take and what's required by city/county, etc.

Had some add'l work on the front end but was able to just take over the existing policy.One potential positive...if you have a higher risk tolerance and you're the buyer use this position to your advantage to negotiate a lower price point. 

Again,  I am only at a 21 day late period currently but wanting to avoid a potential snowball event in the future. 

We have about $100k wrapped up in the stock market and we could potentially get 60-70% of that from my understanding.

I would schedule a few calls and have a few specific questions you can ask potential tax pros.

Yet, Tulum's ongoing infrastructure projects, demand, and anticipated growth suggest long-term potential, especially with the influx of families and the upcoming projects.

Living in the property during the renovation not only saves me on living expenses but also allows me to intimately understand its potential.

Though it feels pointless given that I am a few months from being able to make the purchase, and the market will likely be in a different state at that point, I figure it couldn't hurt to practice analyzing the market for potential deals.      

Look for areas with strong rental demand and good potential for appreciation.