I have several properties each in different entities, with different partners.

With private patio and great Williamson County SchoolsWhat made you interested in investing in this type of deal?

Anyone investing in a product new to them is never going to have perfect knowledge going in; extensive knowledge is accumulated over time, and, well, if you wait for perfect knowledge you’ll never invest.  

You are already in the right place in the BP forums, but try to consume as much podcast and reading material as you can.

Keep in mind that if there is equity to be had, you are probably competing with LOTS of other investors and wholesalers.

Sometimes you can get them to add a construction credit and then record it at the clerks office.

I would loop in the real estate agent since it was his recommendation and not pay the rest as there is no contract.

(I've seen deals where they say they are going to achieve $X in rent, but NOBODY in the submarket gets those kinds of rents.)

But you're living in a market people are keeping an eye on from all over the east coast! 

Indeed, I'm not sure why you'd want to own a short-term rental home in Cancun to start with.People who land in Cancun (mostly tourists) generally either stay in a hotel / all-inclusive resort there or in the neighbouring Riviera Maya or they stay in a short-term rental in the Riviera Maya.