Make sure to factor in any potential maintenance costs, like repairs or upgrades, especially since you mentioned a few fixes are necessary.

Had some add'l work on the front end but was able to just take over the existing policy.One potential positive...if you have a higher risk tolerance and you're the buyer use this position to your advantage to negotiate a lower price point. 

Michael, something I want to add to your spot-on comments; I see a lot of inexperienced STR buyers, buying a property to be a STR either on their own (FSBO or through the listing agent), or through a buyer agent that has little to no experience with STR's and who doesn't have a a great STR network, strategy, has no ability to analyze a property's STR potential, doesn't know how to assess and recommend remodel or what it will cost or how long it will take and what's required by city/county, etc.

Living in the property during the renovation not only saves me on living expenses but also allows me to intimately understand its potential.

I would schedule a few calls and have a few specific questions you can ask potential tax pros.

Though it feels pointless given that I am a few months from being able to make the purchase, and the market will likely be in a different state at that point, I figure it couldn't hurt to practice analyzing the market for potential deals.      

Yet, Tulum's ongoing infrastructure projects, demand, and anticipated growth suggest long-term potential, especially with the influx of families and the upcoming projects.

We have about $100k wrapped up in the stock market and we could potentially get 60-70% of that from my understanding.

Again,  I am only at a 21 day late period currently but wanting to avoid a potential snowball event in the future. 

This is something I have done on my free time to demonstrate to employers my knowledge and skills with applications like Tableau and SQL coding.