I think your budget is tough. $25k is enough to feel like you have some money to play with, but in this market, it really doesn’t stretch very far. The other thing to factor in is the cost of failed purchases. IE. costs of flying to sit on something you don’t like or cost of a PPE on a horse you pass on.
If I were you, I would skip the whole import scenario. For $25k imported, you’re looking at really young horses, and you’re better off getting a $25k 4 year old stateside than a $15k 4 year old that ends up being $25k with import.
I’d either try to split up my goal by buying a horse or two and trying to flip them (which obviously does add more risk, but done smartly is a good option) to increase your budget or try to keep your head down, be patient, and hunt for a bargain. You CAN find great bargains out there. There ARE nice horses to be had for the great prices (I know of someone who just paid less than $10k for a nice young warmblood mare, sound, because the seller needed to unload for personal reasons). It just takes a lot more time and effort.
Also, if you aren’t particular on breed and it’s not intended to be a high dollar resale, you can find some really nice, athletic “off breed” horses, like TBs or Paint or draft crosses, that will be less expensive than their sport-bred counterparts. If you don’t need size, look for something under 16h. Or find something without an A show ring record. Etc. If you can compromise on what are typically the high-demand characteristics, you can find more for your money.
If I were you and you have the skill to do so, I would focus on finding the soundest, best-tempermented, nicest (in that order) $20,000 horse that might have the scope for the 1.2m. You can put a year into that horse and sell it all day long as a pre-green horse or a child/adult jumper or a childrens hunter or an eq horse or whatever it wants to be if it doesn’t want to be a 1.2m jumper. Insure it to hedge your bets against something tragic. That way, if it doesn’t turn into a 1.2m horse, you can sell it and have a nice budget to work with for the next horse. If it does turn into a 1.2m horse, then you’re golden. (In this scenario, since future saleability matters, size and breed will matter more.)