Most STR markets have seasonality, and there are untold issues in the future that will effect cashflow. 

It is what is left after snow removal, cutting the grass, utilities, tenant issues, parking lot issues, property taxes, mortgage payment, etc. that make a difference.

I just learned that builders risk and liability insurance coverage can cease once a CO is issued for a new build.

There are some legal considerations as well as practical considerations 1.  

We know that investing in real estate means building a business that incorporates the right investment strategy, tax & legal plan, financing, retirement planning, insurance & estate planning. 

My manger does this all the time.He has an inspection done to verify all the maintenance issue and has someone video the property to verify all the marketing issues.

I won't be able to make the cottage legal rental without living in the primary home myself.

You will want to consult with a lawyer.In regards to your last two questions here's some background on what makes a contract valid and enforceable:Offer: A promise to do or not do something within a certain time period Acceptance: A clear and direct statement that all terms and responsibilities are accepted Consideration: A legal and adequate inducement given in exchange for the promise Capacity: The parties to the contract must have the legal capacity and competency to contract Awareness: A party must be aware of the contract Legality: The contract must be legal in the jurisdiction it will be operating in***Not legal advice*** Steps I would take: -Review contract in detail to understand each counterparties responsibilities (if you are not aware)- Email a copy of the lease to each of the tenants listed on the lease and reiterate lease expectations for termination notice, rent payment etc. - If the lease was signed via Docusign (other esign may have same ability) - you can go to the envelope, go to history and view the IP addresses for each action taken.

There exists those of us that want a property in Costa Rica despite the issues we are discussing here.

I’d love to hear about the crime rates or any other issues (which we cannot guess from the online stats), and how easy or hard it is to find reliable tenants and property management companies.