Tulum grew from 28,000 to 49,000, received an airport in December 2023, and the greater area is now projected to reach 410,000 by 2035.I am now interested in setting up some cash flow concepts on certain plots of land with natural features and strategic locations.

Some DSCR lenders will use the new appraised value after three months so you don't have to wait longer than that to get up to 75% loan to value (LTV) cash out. 

Avoid multi family properties in areas in Cov and Newport that you would not feel comfortable walking through at night, which is most everywhere there except up on the hills.

Might be you're not set up properly to obtain a separate account. 

@Marquis CobbI would recommend attending events, such as Raise Fest, and meet ups, to find potential investors and sponsors.

Estimating based on running numbers in Rochester, NY, at that purchase price and total rent you probably end up breaking even before accounting for maintenance, vacancy and capital expenses.

I think one angle to consider is instead of learning how to manage, learn how to own and then adapt that to become a co-host.Something like owners work/hire you to pick up slack in regards to being a "on the ground" person to handle problems.

If you never intend on selling, no problem, but if you do my recommendation is to have your exit option very clearly laid out and a good lawyer to draft it up. 

That does not add up.

Based on what I have heard/read thus far, it seems like I don't need a formal legal structure such as LLC for running this is as an active business (but I may set up an LLC for asset protection, which is allowed by my mortgage lender).