Start by reading the Ultimate Real Estate Investing Guide: https://www.biggerpockets.com/guides/ultimate-real-estate-investing-guide/introduction2.

Ambergris Caye was the top tourist destination on Trip Advisor in 2013 and 2014.  

It's a trip for sure :-)There are many REI opportunities in different markets - markets in the Midwest and Southeast of the country are great - where not only are the purchase prices reasonable for most RE investors, but the homes are turnkey (new builds or completely rehabbed homes, tenant ready, systems 10 years of life remaining on them, property management teams in place) with appreciating home value AND appreciating rent.

Most likely the state where the property is located is where lawsuits would be brought if they are something for personal injury like a trip and fall or something of that nature because the “cause of action” arose in that state.

They will be able to guide you in the right direction and tell you if your project is feasible or not.From there, we hire outside consultants to take the plan through the approval process.

Please guide me on steps I can take to stop this madness.  

Make sure you get an experience realtor that can guide you through the leasing process, vette out any prospects, explain what your duties as a landlord are and what to expect, good bad and ugly.

This document will guide you in the event of disagreements (which will eventually happen).

Start by reading the Ultimate Real Estate Investing Guide: https://www.biggerpockets.com/guides/ultimate-real-estate-investing-guide/introduction2.

This will guide your deal criteria.