For example, stating a component of fraud, or theft by swindle.

There are mutiple components.

From talking to locals, there's a couple of issues than need to be addressed, some are the non-ecological practices that some of those developers have, unfortunately, our government profits from this investors and allows them to destroy manglers (which are the natural water purifying system of that area) dismantling hectares of mangroves and degraded the habitat of resident and migratory species burying animals alive.There's proof of fecal material floating beneath the city of Tulum, only 20% of the water is sent to the water treatment plant, there's no infrastructure for the exponential growth.The landfills in the middle of the jungle that is leaking hazardous pollutants into the freshwater system and that something that developers won't tell you.I love my country and it would be a disaster for everybody if this place ends up like some other great beaches around the world, that are completely ruined by greedy investors not following the rules.There's no urban or comprehensive master plan, and one of the risks is that Tulum will be like Playa del Carmen is today, overgrown and with environmental devastation.I will advise doing a lot of research before getting something in Tulum, different country, different rules, and practices.

This requires the right renovation components and speedy make-ready after a tenant departs.

The culture component is ESSENTIAL!

These people are a pain in the arse, get a good Environmental company to do your Phase 1 and any permitting you might have to do for stream crossings, wetland compensation, ect.

Most municipalities have different mix-use categories which dictate the precise commercial use that's allowed.A few additional observations on mix-use assets and how I approach them (1) they are generally more difficult to finance than multi-family assets so expect lower leverage terms even if the property performs just as well if not better than a multi-family property and therefore price this into your acquisition (2) I focus on mix-use assets where at least 80% of the income is generated through the residential component.

The no cash component will be your biggest hurdle. 

I plan to shop around more but I’m surprised that there aren’t more funding options in California with the recent popularity of ADUs help with the leverage component. 

This strategy identifies components of the property that can be depreciated over shorter timeframes (e.g., 5, 7, or 15 years instead of the standard 27.5 or 39 years).