Ah, I see...
So unfortunately, the cost to buy and build the Mexican property will not be deductible, except for depreciation on the building once placed in service, i.e. once advertised for rent. The cost to maintain the property once placed in service may be a deductible expense and help offset gains in other places, <IF> the property is being used as a rental property. Be sure to research personal use of rental property if you intend on staying there for any amount of time, since personal use can disqualify these expenses.
Still unconvinced this is going to get you the result you want, as personally, I never plan to lose a dollar on my rental properties just to save a quarter on my tax return...
