Make sure you put in your contract with the GC some performance incentives to make sure the renovation is done on a timely manner.

Try to get a cashout refinance to see what the bank thinks it’s worth and how the business would perform with debt.

While it doesn't meet the 1% rule it's in a stable, desirable area that'll perform more consistently for you over time so it's worth the tradeoff in my opinion.

Quote from @Kobe Carr: Looking to get started with real-estate and would Dallas Texas be a good start for a beginner  Where do you live?

We're here to help each other so I don't see the point of bringing that up to scare somebody away from buying a condo in Tulum when, so far, it's had absolutely no bearing on the performance of investments there.

When you are purchasing a multifamily property, the seller will be advertising the property performs at a certain cap rate.

In the next 5 years, we can buy one property per year with 25% down (~100K), and perform the same operation of using cash-flow for paying off properties next 15 years and we will have $15K/month net-profit which hits our goal adjusted for inflation (assumed at 3%).

Background checkCredit checkPast performance.

@Dennis Boettjer be careful about basing your decision solely on past deal performance.

Ensure your records include details of any hired help and the tasks they performed.