I joined some facebook group and sometimes the members of the group offer a joint venture where the original investor has bought a property but will need my money for the renovation.

Being that I own it outright, and only need $125k (budgeting for unknowns), not many hard money lenders have been overly interested.

The owner has lost several people’s money. 

I am risk averse and if I were to purchase, I would tear down to the studs and do a full rehab {this would include getting rid of asbestos shingles and insulation).1) I have done a ton of research and it appears as if getting rid of asbestos is very DIY able assuming you spend money on the safety equipment and use it properly. 

Thankfully I bought them dirt cheap after the '08 meltdown so after years of break even I made money when I sold them. 

At this point I am just saving money until it financially makes sense to move on a lot, and then will slowly save up to build a simple 2 BR 1 Ba for short term or long term rental.

That seems like a lot of money in Mexico.  

The tougher part will be finding clients that want to work with a part-timer that has no experience and little time.If I were you, I would focus on dentistry where you can make really good money, then use that money to invest in real estate on the side.

A lot of people are drawn to the guaranteed rent money but I found it comes at a significant cost and I did not think it was worth it.

Do you guys really think people end up losing money on the deal?