In my campaign (VH/VH) I did it slightly different trying to stay out of unwanted and costly wars if possible. There are three regions that are at risk being attacked and that are very difficult to defend. My aim was to complete the mission to get New Spain asap.
1. I sold Flanders to the Dutch in exchange for Curacao. This solves two problems: I don't have to defend Flanders and I don't have to attack the dutch to get Curacao which is a mission target. So no war with the UP.
2. I sold Lombardy to the Italian States for an alliance. Naples is your second richest region and is now defended by the pope.
3. I abandoned Florida since the income from tax is only 50 gold and it has no port. With the three units from Florida and some more I used to get the mission done.
This should have left me out of lot of wars but the AI decided to have some fun so Louisiana attacked New Spain. This caused me to loose France as an ally. The first ten years I had to defeat Morocco, Portugal and France. During this ten years I was able to defeat the Pirates. It then took me five more years to get my army to Texas because Louisiana was blocking the transport and complete the mission. Once the mission is complete develop New Spain and become rich, very rich.
On a side note. Unless you are planning to capture India, an Indian faction is usually my best trade partner.
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