If you're open to looking at some resources here's what I would recommend you start with based on what you've said:1.

We didn't because we needed to provide POS in order to obtain our STR permit being that previous owner had a permit on the property already.

. $120k out of pocket money down to obtain the funds.Huuuh???

The foreclosure would be finished well before I could even begin to start rehab, obtain permits, get a certificate of occupancy and find a tenant.

You can then measure the cash flow impact versus the potential cash you would obtain upon a sale.

Often don't have to be licensed, but ask.If you are serious about all this, recommend getting your RE license AND pursuing NARPM courses.

My husband and I purchased our first Costa Rica property last year and were advised by our agent that in almost 6 years of working in that market he had only ever seen 1 American Couple successfully obtain a mortgage in Costa Rica and it was from Scotia Bank. 

@Sang Kim- thanks for clarifying you are trying to get a commercial loan ...this is a  completely different product than a home loan ...You still should be able to  locate and obtain a good commercial loan  without  having to pay any fees upfront  ( other than possibly paying for the appraisal after the  loan has been  approved )

Most professionals will recommend a separate LLC for every $1 million in assets but I don't think that's necessary.

If you are looking to house hack in our local neck of the woods, I recommend reaching out to @Josh Green.