Will depend on several factors like the type of property, type of tenants, your risk tolerance, other assets you own, your estate planning, laws where the property is located, etc.

Initial plan was house hack.

If you plan to have a large portfolio and scale, this would be something to consider.

I have 2 development projects in planning at the moment also and they have relatively similar #'s. 

The best is to buy raw land and get it shovel ready meaning site prepped with plans and permits approved and then sell that 

The plan is to use the funds to purchase that first rental and begin flipping some houses along the way to pay down the mortgage on that long term rental, rinse and repeat. 

Terms:$160,000 purchase price10% down payment3% interestBalloon payment in 5 yearsMy plan was to just make the payments on the land for the next 3-4 years, ride the appreciation wave and sell the land in the same condition.

Construction loans are available in Mexico but its a complicated and very expensive process.As a developer, I find and buy the land, plan and obtain all the permits, recruit a general contractor, market and sell the condos to investors who either use them for part time living or list them on AirBanB. 

Needs complete rehab ceiling is showing mold in living room and room kitchen cabinets has to be more updated flooring needs redone painting outside and in bathroom needs to be updated the property value is estimated 401k highest 437,090 rent in area I seen 2600 lowest highest being 2750 a contractor roughly estimated told me I’m looking at 134k

If you plan to raise capital, always start by consulting an SEC attorney, it's not an area you want to mess around with.