Apparently, because rates increased here so astronomically in the last 2 years, the insurance industry believes their numbers are correct with the risk.If you have the correct coverage @Marc Shin, you should be covered (although you should also have budgeted or baked-in costs for minor issues/damage).

Lastly, network with local investors and continue learning to refine your strategies.Good luck!

Last but not least - how much does it cost?

You will make a better return with less risk keeping your money in a CD or bond. 

The only information I had to go on was with the last Lender informed me so maybe it was specific to the company they were with.

@Christopher MorrisTo add to what @James Hamling said, it also depends how much you need every last $ of income, how much more money you can make doing something else (W-2), or how much you value your time. 

My husband and I purchased our first Costa Rica property last year and were advised by our agent that in almost 6 years of working in that market he had only ever seen 1 American Couple successfully obtain a mortgage in Costa Rica and it was from Scotia Bank. 

It's a fantastic strategy as long as you still have your HELOC, buy during the last downturn, one of the first things that banks did was to shut down HELOCs.

 I did an investment research trip to Guanacaste, Costa Rica in March of last year.

We have been working with Devon Kennard and helping him expand his portfolio over the last several years.