I offered $250,000 which if paid to maturity would yield me almost 19% annually, and much more if paid early.

If your holdings are small (i.e. a couple of SFH), the cost of setup companies, annual filings, etc. may simply not be worth the cost.

Taking on deals like this that decrease wealth, such as low return high upfront cost whole life insurance, paying 19% interest on credit card debt, paying 2% annually to have a “wealth advisor” place your money in Vanguard Index Funds, paying for a high cost mortgage because you’re credit is bad, and “debt consolidation” programs are all reasons adding up to why many people can’t achieve financial independence and remain dependent on working every day to live paycheck to paycheck.There is a chance that in a particular circumstance any of these, including the program offer you describe, can be beneficial in certain specific cases.  

>he's likely accumulated a good amount of equity and is benefiting from debt paydown and tax advantages (with potential appreciation and improved future cash flow once the properties are stabilized being nice-to-haves if they happen). equity pay down starts at 0.15% per month, ~2% annual.

Please note, units have to be registered (then renewal annually) with the Department of Planning and Permitting in order to be operated as legal vacation rentals.  

This can be invested pretty conservatively to yield about $75k annual income.  

Annual revenue is 300k.

What's the value of the condo and the avg annual appreciation in your market?

McAllen is minutes away from Edinburg. https://foxrgv.tv/mcallen-pd-annual-report-city-ranked-third...San Juan does have new projects coming through as well.

For those doing MTR what have you found to be the estimated average annual operating costs?