Think fix-and-flip properties or land development projects—things that don’t fit the cookie-cutter mold banks prefer.

Go for the independent PMs, not just a real estate agent offering property management on the side or one of those cookie-cutter franchises (PMI / RPM). 

Some pros:- You'll have plenty of cookie-cutter comps so you should be able to get a very accurate estimate of ARV and/or sale price in the case of a flip.- Your maintenance and repairs will be mostly limited to the interior of the property as the condo management will maintain the building- You won't have to worry about tenants maintaining the grounds around the buildingCons:- Condo fees may change drastically over time and it's largely not in your control- Condo bylaws can be tough to work around.

If they're not crazy big, meaning they haven't busted the pipe completely and are huge, you can run a jet with a cutter through the line and clear them out.

An agent becomes more useful the less cookie-cutter a deal is.

However, the market is currently crowded with cookie-cutter apartments, creating a lot of internal competition and pushing rental rates down.For short-term gains, I’d avoid preconstruction projects unless backed by bridge loans or completion guarantees, as many developers in Tulum have failed to deliver.

There is an investor meeting there called RIG and I suggest going to it.. you could meet some of the locals..

Supply of STR units: We have seen developers in Tulum building cookie-cutter projects with a high density and cheap design/finishes, these units are not renting that well and some owners have switched to long-term rentals, which were very expensive and scarce.

It's a "rigged" system of consumer psychology, the monthly statement payor system. 

update the seller has taken a week+ to review our loan sale agreement (which is very cookie cutter).... finally closed on this one... will keep people updated