The owner has lost several people’s money. 

I am risk averse and if I were to purchase, I would tear down to the studs and do a full rehab {this would include getting rid of asbestos shingles and insulation).1) I have done a ton of research and it appears as if getting rid of asbestos is very DIY able assuming you spend money on the safety equipment and use it properly. 

Thankfully I bought them dirt cheap after the '08 meltdown so after years of break even I made money when I sold them. 

I never assume that a GP can't lose my money.

At this point I am just saving money until it financially makes sense to move on a lot, and then will slowly save up to build a simple 2 BR 1 Ba for short term or long term rental.

That seems like a lot of money in Mexico.  

The tougher part will be finding clients that want to work with a part-timer that has no experience and little time.If I were you, I would focus on dentistry where you can make really good money, then use that money to invest in real estate on the side.

A lot of people are drawn to the guaranteed rent money but I found it comes at a significant cost and I did not think it was worth it.

This is especially true if the property requires significant upkeep or if the heirs live far away.Owners of Distressed PropertiesSellers who own homes in poor condition and can't afford the necessary repairs may prefer to sell as-is rather than invest time and money into renovations.Landlords with Problematic TenantsLandlords who have been dealing with problematic tenants, frequent vacancies, or costly property damage might want to offload the property quickly to cut their losses and avoid further hassles.Owners Facing Major Life ChangesSignificant life changes, such as health issues, retirement, or downsizing, can motivate people to sell their property quickly.

Yes, that also means we are leaving some money on the table in the short term - but we do raise our rents every year by 5-10% and when turnover happens we take them to market rate.