Even at a $100k price the numbers don't work to get my money out on a refi at $140k valuation.

Take the money you would be forced to pay for the course and use it to buy your first property and take off from there. 

Required distros for tax consequence.At the same time I kinda snicker a bit since the buyer... the investor... thinks they found the next Apple or Tesla investment (and they are clearly the smartest in the room), and then go off the rails when it all goes south, I can't help but shake my head and have a small giggle.A fool and their money soon go separate ways, Yes, but don't you wonder how they got together in the first place?

I suggest to make deep research about the location and risk or ask experts personally before take actions. 

The latter is actionable and what leads to success.

I have not been through a closing with seller financing yet so I am wondering how it will go if the lender sees in the Purchase and Sale agreement that I have seller financing and how the wiring of the money will work.

The local enforcement just didn't seem interested and didn't take action.

Or would the better of the options be to secure private money at $50k for 3-6 months to fund the DP? 

So for me I just dont borrow money for rentals anymore..

Most tourists who go to the Riviera Maya want some degree of "action".