No matter how you spin it, you are chasing the wrong audience.Add fact 1 + Fact 2 together and you will see that drawing a conclusion is quite simple right?

Does it matter if it is an LLC or S-Corp?

I am unsure which is right for that purpose or if it really matters but I am sure it's all situational.

The % in itself doesn’t matter so much.

But properties priced and marketed appropriately can still go under contract in a matter of days, sometimes with multiple offers.

No matter how good one person is, a single licensed manager, even with assistants, doesn’t work because you’re one family issue away from them keeping your money.

Which is fine, it's just a matter of figuring out what that risk factor is. 

Plus, if your property isn’t right on the water, the chances of it getting completely wiped out are even smaller, around 10%.And if you’re not in a flood zone, then it’s really just a matter of balancing the cost of insurance versus the potential gains in a market where people are panicking.

So, if your investors absolutely want to invest in Costa Rica and maybe be able to tell others that they're (part-)owner in a beautiful Costa Rican property, it might make sense for them to invest alongside you.However, as an investor, all that matters to me are figures and there and I don't have to own properties in Costa Rica.

People matter.