This means there is upwards of a 10 minute drive to reach some of the "A" locations in the neighborhood when traveling from  the "C" areas.  

I have gotten some estimates and that looks like about $30k total if I just use local contractors, If I do some of the work myself and do it as cheap as possible, I might be able to do it for $20k. 

Could be a cheap way to get a no money down rental :-oWe put in an offer on Blairmore today for $5k over asking.

My wife and I grew up in Erie and would like to have a duplex/triplex as our home base while we travel for her work. 

You can't compete against the all-inclusives unless you offer complimentary food and booze or you're cheap, as you seem to be confirming.This being said:1) Properties in Mexico/Cancun trade in USD so you have no foreign exchange risk in Mexico while properties in Colombia are traded in COP, the Colombian peso, which has been tanking over the years, eliminating any hope for capital gains for American investors.2) You can get a mortgage in Mexico but you can't in Colombia so even with lower revenue, Cancun would likely still be more profitable, even if you don't take capital gains into account.3) The political risk is much higher in Colombia, especially at this present time.Is Cartagena a bad investment?

One example is in one city I only buy for cash and do not cash out refi as the houses are cheap and the rent is high.

In particular, OO does not have vacancy or PM and typically has cheaper maintenance/cap ex than the landlord would experience.https://www.realtor.com/news/trends/its-now-officially-cheap...if you use realistic expenses, purchase at retail (off MLS) without a value add, you will have negative cash flow on virtually any purchase.  

Lots of folks needing a cheap place to live!

Slim chances of success, but cheap and easy to get started. 

Broken Bow - I remember this market had a lot of attention a couple years back because it was a relatively cheap market.