- Do you have a current need for that cash flow generated from the tax savings? 

Insurance estimated at $7,000 annually and taxes around $10,000 annually. 

So that's $84k per year before taxes.

@Ane DeysI would not generalize all REITs as being equal and there are also a lot of private funds who did not go the REIT route as a reit, while having specific tax benefits is also required to be passive.

It doesn’t protect you or give you tax write offs.6.

Punta Cana does offer the advantage of not having to pay taxes, but keep in mind it receives less tourism compared to Mexico.In Tulum, the market is becoming competitive, especially in standard studio, 1 & 2 bedrooms.

My rough strategy is buy SFH (older but (semi) recently remodeled B- to A- properties in good areas likely to continue appreciating and attracting good, trouble-free tenants) 0% down VA (may consider a small amount on second property, like up to 3% just to speed things along) and stay in it as my own primary residence until at least 10% of purchase price paid off and able to cashflow 300+/ month after mortgage, taxes, insurance and 15% set aside for repairs, vacancy, and maintenance (like I said, I'm not overly interested in rental RE, so I want to be sure it's lower effort and worth my time in return).

The hard thing with commerce is the property taxes are higher and some areas aren't that great.

(Lower rates, higher rents, and apprciation.) until then you get loan pay down and tax advantages to go wi the lower prices. 

Wouldn't this property now qualify for the 1031 program and defer your income taxes?