These folks that think they are going to build long term buy and hold are the ones that can run into lots of trouble. 

Hold him to the signed lease?

Austin can easily support this.

If your doing anything close to this tye property better be a 100% home run .Otherwise, we didn't do a portfolio loan until we had 5 houses and supporting tax returns and did everything cash up until then. i wouldn't do it until you have some track record before jumping into leverage and a heloc is made to use and pay off quickly.

If you buy as an investment, your return will mostly come from your rental yield as long as you hold the property since you won't refinance and since Tulum isn't a market for BRRRing or flipping.

If my focus was just on appreciation, holding it long term and keeping the low interest rate would probably be the better choice.  

If you have 12 months of business/personal bank statements to support the $20k/mo, you could be looking at rates in the mid-high 7s with good credit and 20% down (assuming second home). 

Investment Info:Single-family residence buy & hold investment.

You may not include income earned that is not on a tax return, an administrator or PHA may consider additional income in that household, a teenager may mow lawns or receive child support that may influence funds available to that household. 

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