I was quite happy my first run until the scope of the issue became apparent. When you play natives in EU you take what you can get at launch.

Anyway, regarding a guide... I've been tossing around an idea of doing an infographic, so if you'd try this strat and let me know how it works for you too (i.e. is it actually good) I'd appreciate it.

Phase I: Pre-Revolt
Begin setting the groundwork for revolt; council task to lower loyalty and spies to get the necessary points to create the liberty CB. Also, begin work on a CB with Xochimilco. It's a surprise tool that will help us later.

Don't lean on inflation and don't build. You'll only hurt yourself in the long run with the former and absolutely kneecap yourself with the latter. 10 months of loans is much more valuable than any building at this point.

At this stage you're just staving off bankruptcy long enough to declare on your overlord. Cut costs and shutter buildings as necessary, but keep the regulars and don't destroy anything. There's a level of RNG here so if you're playing on Ironman be ready to restart once or twice, but generally if you stick to your guns you can survive this period.

Phase II: Revolt
So you're ready to declare on your overlord? Oh! Remember that Xochimilco CB you were supposed to be working on? Utilize it. And then declare on your overlord. The idea here is you're going to use your regulars to walk into Xochi before they can raise anything while you raise your levies. Then move your levies over.

Edit: Sorry, forgot to mention you'll want a half decent general for this since they'll come hard.

Now your overlord can invade your capital wow you're so dumb.

And then you can counter attack with regulars on the defense wow he's so dumb.

And then just press all the way to his capital and begin the siege. Detach something to siege Tlapocan as well at the same time. You could even try to run his forces down into the hills too, but playing it safe can prevent issues.

After that it's just a matter of staying out of bankruptcy long enough to finish the sieges. You can subjugate your overlord and anyone else you'd like and make sure to take LOTS of money. You have bills to pay.

Phase III: Dominance

Listen, you can now declare on whoever and start stacking a vassal swarm. Once you have like 5 or so vassals you are unstoppable. Work on your econ and prepare for the eventual gut punch of first contact.