Would you still use your friend as your GC and just pay him his regular rate (and would they be happy about the new arrangement)?

I don't know but I have plenty of Canadian and American friends and acquaintances who travel (regularly) to Mexico and the Dominican Republic but I don't actually know anybody who has vacation in Puerto Rico (unless they haven't told me of course).As can be expected, the most profitable form of real estate investment in the region is short-term rentals.

And he knows who's working regularly, who's only off-and-on, who's going through troubles, who needs extra work.

I'm interested in doing that for a property we just renovated and I'm curious on how to proceed, especially if the tenant decides to exercise their right to buy.THanks

Quote from @Will Ghidotti: Hi Amby, I am a real estate attorney and handle this issue regularly.

Even updating the listing regularly so the OTA knows there's someone actually running the place behind the listing.

There's also regular inspections of both the living conditions and conditions of the home, and I've known some LLs in my area to fail for really stupid things (like a broken screen that the tenants must have broke), and if you fail no money until you pass. 

He should just exercise good faith, himself.

I just moved to Oklahoma City a couple weeks ago, but I will be coming back to Chico on a regular basis.

They provide a lot of useful information for people but primarily focused on doctors regarding all types of investing including real estate, 401Ks and 403Bs, life insurance, disability insurance, regular investing accounts and more.