Canadians are know for being very frugal with their money as they have to be given provincal/fed taxes, socialized healthcare etc… They are known to vacation in Cuba
My inlaws defintely fit this bill.
Mexico has never been a particularly good place to invest given a long history of unstable governments. Ask the people who owned home on the Ensenada Estero how they feel about retirement homes in Mexico.
I know a family that moved to La Paz and took over a small hotel/sportfishing charter business and have dealt with quite a few challenges including deportation back to US. You have to know who to bribe to make a go of it.