One of the main things is the financing so make sure you take care of that first to avoid potentially waisting a lot of time.Now to your questions:Buy and flip: that generally won't work in Mexico.

New to all of this, need to insure home for rental.

If the tenant ever cancels coverage, you will be notified.Here's an article explaining: https://www.credible.com/blog/home-insurance/additional-insured-vs-additional-interest/#:~:text=Additional%20insured%20is%20only%20available,t%20collect%20a%20claim%20payout.

Option 1:30 Year FixedLoan Amount $202,500.00LTV 75%Discount Points %0.00Prepayment Penalty (3/2/1)Interest Rate % 8.225Origination Fee % 0.00Underwriting Fee $1,645.00Monthly Mortgage Payments $2,018.76Broker Fee % 1.25Cash From Borrower $78,081.01Option 2:5/6 ARMLoan Amount $202,500.00LTV 75%Discount Points %0.00Prepayment Penalty (3/2/1)Interest Rate % 8.025Origination Fee % 0.00Underwriting Fee $1,645.00Monthly Mortgage Payments $1,990.40Broker Fee % 1.25Cash From Borrower $78,052.65@Ryan Jacques  Assuming you are not a first time home buyer or first time investor you should be able to better on rate with ZERO pre-payment penalty on a DSCR loan for the 30 year fixed.

Me and my husband have a trust and so far we have put all our assets including homes under this trust. 

Hi, would love some input/advice on buying a small cottage in Saugerties, upstate New York(mid Hudson Valley).Looking at buying as a STR/vacation home for myself.

Times 5-6 home games you are talking real numbers so long as you have decent occupancy other times of the year. 

@Jonathan GreeneAgree 100%. be transparent and if good news great - bad news - still share it with investors - realize they are making life choices based on what they may be telling you as an example of someone has $100k investment and you fear it’s going to go to foreclosure - well maybe they would not spend $10k on that vacation or buy a new home knowing they are getting wiped outUnfortunately there is a group of guru syndicators who are great marketers / sales which some I have personally spoken with and they are so full of it and just like to hear their voice their ego gets in the way.

I have spoken to a few lenders since the post and found a few who don't seem to care, or even ask if the work is permitted.

As for the tenant's boyfriend, even criminals leave their homes to go to work...Don't let them out of the lease.