If I currently have a modest passive income stream and a reliable property manager in Bucaramanga, Colombia what would be a good hedging strategy against possible currency spikes?

Places with high crime rates are spiking up.

So let me put two questions to you.1) Let's assume you were just starting out in multis again and had, say, $1m liquid and a few well-heeled friends looking to add R.E. positions to their portfolio.

While the salaries have been low, up until this year when things really spiked, the retirement plans and money able to be set aside was just embarrassing!  

Yes, moisture is its Achilles heel similar to real hardwood, but as long as you don't have a leak directly onto or under the floor for any extended period of time, it shouldn't pose too much of a threat.

I suspect it will be the owner of the title co.. who has to pony up.. its tough to fight a FATCO  they are one of the largest insurer's in the world.. if they dig in their heels... ...

My realtor said there has been a spike in price drops this past month.

I live south of town in Franklin, and prices here have started to spike unexpectedly in the last year.

Definitely passive income, like rentals, however quick spikes in cash/reserves can be achieved with wholesaling and flips. 

Even before all those adjustments, rates in general spiked on the most recent election day (you could say rates are "Trumped" up, omg I crack myself up) and have not come back down to pre-election levels.