The idea keeps coming back.
Here's how you actually do it.

Yes, but not through direct ownership. Mexican law prohibits foreigners from holding direct title to residential property within 50 km of the coast. Instead, you purchase through a bank trust called a fideicomiso. You control the property completely. The bank holds the deed on your behalf. This is the legal framework designed specifically for this situation.

No. The bank holds the deed. It does not own the asset. The trust is legally separate from the bank's balance sheet. They cannot sell it, rent it, or use it in any way. You direct every decision. Think of the bank as a legal custodian, not an owner.

The trust permit is valid for 50 years and fully renewable for another 50. In practice, this is not a concern you will face. Renewals are straightforward and the trust outlasts any typical holding period.

You designate substitute beneficiaries inside the trust contract, as many as you want, at whatever percentage you decide. They do not need to be family. They do not need to be Mexican. When you die, the property transfers to them through the trust, bypassing probate entirely. You can update beneficiaries at any time, though each change requires a new deed and a notary fee.

It simplifies things. If the property is already in a trust, which it likely is, you can assume the existing trust instead of creating a new one. That saves you roughly $1,000 USD in closing costs. Your agent and notary will confirm which route applies.

No. You can close remotely through a Power of Attorney or, in some cases, by signing a bank acceptance letter and sending it via FedEx or UPS. Do not use USPS, it is not accepted for international legal documents in this context.

Between $400 and $500 USD per year plus VAT, depending on the bank. The first year is included in your closing costs. After that, the bank invoices you annually.