The HOA fee is 50%-60% less than comprable condo buildings built within a three year time frame of the condos in this deal so I'm pretty sure that once I see the HOA's financial position, I will see that it is under funded.

The plan is to set aside a portion of the equity from the sale to invest in a multifamily property. 

So I totally understand how to add value to a rundown property by doing the work myself -- it's good old-fashioned sweat equity (more properly termed "trading time for money.")What I don't understand is how it works to add value (at least profitably) by hiring it out.

If you are not in a good credit or cash position, you will be forced to take on worst loan products in the 8s or even 9s. 

I have about 150k in equity in my house.

Airbnb has been life changing for me and my husband, we have dealt with some real turds along the way, but overall we have had a really positive experience.  

Plus, there's still so many positive cash flowing and 1% deals here in Columbus Ohio.

I’m not looking to make a quick buck with this investment (I purchased presale and already about $100,000 in equity as a result) Just was hoping to find another member of this forum that has also invested in Tulum and has good PM contacts that can handle everything for me and an organization where I can verify how they manage their other STR’s and see the reviews left by other guests.

Working with a wholesaling company Benefits:They will pay you to learn ( Basically)Dont need to deal with Marketing , accounting , administration , etc, and you will get pay a portion of equity... 

Focus on Distressed Properties which is what we do in Hawaii which is a really tough market to do REI -- however, we make up our margin on forced equity to cash flow  properties.Don't give up just yet.