We live in Los Angeles, both are self employed 1099 independent contractors, combined annual income roughly 250k pre-tax.

If you got the permits and they are recorded with the county tax assessor, you can list them on the MLS, Zillow, etc as a five-bed with ADU! 

They formed all of my entities, prepared my trust and handle my taxes for me. 

But property tax rates can be lower if you purchase properties in this area located in Wise County.

I’ve qualified as real estate professional since 2021 and just found a potentially good opportunity to acquire a property in Mexico that would make for either a solid STR and/or eventually our forever home.I’m completely new to acquiring a foreign property- how to finance, what purchase process looks like, how foreign STR is taxed, does real estate professional status matter, etc. 

Since beginning I have done one creative finance deal using sub to, one attempted fix and flip, me and my partner own two airbnbs and I have bought and sold many tax properties.

You could still get the tax deductions...rents will likely go up, interest rates will likely stay flat or decrease slightly, Austin has a great outlook long-term. 

.- Our combined after-tax income is $170k annually.- We have no outstanding mortgage debt.Recently, we discussed financing options with a banker at PNC and learned that we might qualify for a HELOC up to $480k, albeit with a relatively high minimum interest rate of 9.31%.

You then, have to Homestead it in Florida for the Property Tax reduction.

@Taryn Hansen As this is a real estate site I’d have to say rent out the house and keep it and watch it appreciate in value while you earn solid cash flow and get tax benefits.