For me I think Belize is a safer place with a more stable government than Panama....but I have not done a whole lot of research.

It's not a great time to BRRRR so if buying something more turnkey as a newer investor is safer if you see appreciation in the future and you plan to hold in a long-term strategy.

Basically, I’m shopping around.

ITs certainly in the ballpark but I think you can do better most likely - especially with your experience of owning five rentals - certainly some options here on BP to shop around - but the rates and points seem a tad high - you could probably secure something with both a lower rate and origination (and potentially no appraisal cost as some Hard Money Lenders don't require them)

If you are shopping lenders that would be a question to ask.

Every lender will have different pricing adjusters depending on the category, such as a lower or higher FICO score/LTV, so it's always a good idea to shop around. 

If you know nothing about both markets I can tell you traveling into Louisville is typically cheaper and easier, but Lexington neighborhoods for me were a safer bet overall. 

From a rental standpoint I prefer properties in the suburbs that are long term rentals because it's a safer more consistent play.

If you are able to build an in-house maintenance team, having a useful shop and stockroom can save you/your clients a great deal in "road time" and other expenses.

You didn't mention home insurance and that will need to be set up before closing.Don't buy anything yet (don't rack up you credit card balances), but window shop at the hardware store.