Investing in Puerto Rico Real Estate buy&hold pros/cons?

[Mike S.]

I have friends in PR, it one the most beautiful places on earth IMO.  As you may know the economy is way way down which means there are super bargain prices on real estate.  I recently read of incredible tax incentives... I could be wrong but thought I saw something about practically zero RE taxes and 0 capital gains for investors... with the bargain prices it seems to me a no brainer to buy and hold.  Only planning to buy 1 nice condo (from 100-400k depending if I will mortgage). i would then air bnb it out so can visit often. Friend told me rent vacancy is a problem but i think you still end up getting a better cap rate than here in Boston...Any one investing there have any input? Thanks so much!