Looking for advice on a 12-day Mexico adventure

• I’m planning a 12-day trip to Mexico in late October / early November 2027, specifically within the 22 October – 10 November window.
• The main goal is to experience Día de Muertos in Oaxaca, ideally being there around 1–2 November.
• I’m not looking for a typical relaxing/touristy vacation — I want this to be a full adventure trip, with culture, history, nature, wildlife and some challenging experiences.

Places / experiences I definitely want to include:

• Mexico City
• Día de Muertos in Oaxaca
• Oaxaca / Hierve el Agua / Monte Albán, with some hiking and outdoor activities
• Monarch Butterfly Biosphere Reserve in Michoacán (if the sanctuaries are open)
• Chichén Itzá
• Cenotes in Yucatán, ideally including some less-touristy/adventure-oriented ones

The itinerary we’ve put together so far:

• Oct 28–30: Mexico City
• Oct 30–Nov 2: Oaxaca
• Nov 3–4: Monarch Butterfly region
• Nov 5–8: Yucatán / Valladolid / Cenotes / Chichén Itzá
• Then fly back home.

The itinerary was put together together with ChatGPT as a starting point, but I’d really like local and experienced travelers’ opinions before I start booking anything.

I’d especially love advice on:

• Is this itinerary realistic for 12 days, or am I trying to squeeze in too much?
• Would you change the order of the destinations?
• Is late Oct / early Nov a good period for the Monarch Butterfly Reserve, considering that sanctuary opening dates can vary?
• What would you recommend doing in Oaxaca during Día de Muertos that goes beyond the typical tourist experience?
• Any hikes, cenotes, villages, wildlife experiences or adventure activities that I absolutely shouldn’t miss?
• Are there places/routes you would remove because they’re too touristy or not worth the time?
• Any advice on transportation between these destinations?
• And most importantly: if you had 12 days and wanted an adventure-focused Mexico trip around Día de Muertos, how would you do it?

I’d love to hear both “keep this” and “you’re doing this completely wrong” opinions. 😄

Thanks!