don't know if this is still true, but at one time foreigners could not outright purchase property in Mexico within 100 miles of the coast. 

My suggestions:* Requiring code compliance and safety equipment is absolutely valid and should be part of the regulations* Requiring owners live within 15 miles is not necessary since poor hosts whether they're local or distant will violate the 3-5 warning system and earn a suspension.

They had the $20M in coverage, equating to $400k+\- per unit or less than half the $1M Zestimate.  

Four properties were existing STR's that had a permit 'transfer' and the other half were eligible properties that successfully launched with astounding success.

If you look at the one mile income radius and you see median household income at 45k, then take 30% of that or $13,500. 

If it's in the restricted zone (within 31 miles of the coast or 62 miles from an international border, you have the choice between using a bank trust and paying the fees mentioned above or using a Mexican corporation and bearing the costs of establishing and maintaining  the corporation.

There is a small park about a mile from the property, so I know the infrastructure (water, electricity, sewer, trash) is available for a build. 

Quote from @Craig Parsons: I'm working a flip in a commuter town about 60 miles south of San Jose CA.

The income amounts look to be long-term rental (which they are and came in 30% lower than what the STR average did) and 2. why did the appraiser look at homes 20 miles away to compare to when there are PLENTY of rentals in town...

I'm 2 miles from 2 hospitals (one is Swedish and I've heard that they get a fair amount of travelers) and within walking distance to Denver University.