Latin American countries to invest in short term rental?

[Rick Dane]

I've traveled a decent amount in Latin America and am starting to look into potentially investing in a short term rental in the region. I'm curious if anyone has suggestions for countries that may be a good fit, I haven't really looked into this before while traveling, although I've stayed in a lot of short term rentals while traveling in the region and I think I would like to try getting one that is fairly inexpensive, so I'm not looking for luxury type of real estate.

Basically what I'm looking for are the countries that would be the easiest to get started in, I'm not fluent in Spanish but I have basic proficiency and I'm comfortable enough I think with the cultures in the countries I've been to where I'm able to see myself doing this but I have never dealt with anything like this before in terms of investing in a country so I'm a little lost as to how to evaluate one country against another.

I've narrowed it down to Mexico, Central America, Caribbean or Colombia. I have this perception I guess I would say that Panama may be one of the most friendly toward foreign investors so I'm going to look into that more but was wondering if anyone has other suggestions.