Appraisals will use a lot of factors when determining value, so if you plan on renting out the house that you want to refinance, you might as well make the improvements that will get you higher rents.  

@Tommy Adeoye I'm not sure how you're calculating your COC or what factors you're using but we do a lot in Kansas City that have great cash flow.

If repaid on time, there is no early distribution penalty or taxes.If the plan is to take retirement funds as a distribution and not pay back, then there's going to be a number of factors that will determine the tax treatment (example: if you're still employed, if it's a 401k with current employer, current financial situation, your age, what the funds are used for, etc...).A financial advisor or tax professional with all your specific details should be able to help provide a plan to reduce your taxes and penalties accordingly.

I have my eye on a commercial property that was an original tiny local grocery store and another shop.

Say for rv, campers,tiny homes. etc.

This is why it's important to consider several different factors when analyzing properties, rather than just looking at cash flow.

There's also a lot of factors a play related to personal finance that only you know, ie risk tolerance, investment allocation, etc.  

Many are backed by Lloyds of London and are rated on their own set of factors.

As Steven said, without other complicating factors, if an accountant recommends this, run and run fast!

Costa Rica could be easier, but when you really factor all the costs do you expect the long term reward/return to be better than investing in the US?