With the very basic info provided, it sounds like your wife has a chance to qualify for a conventional investment property loan. 

I'm telling my commercial clients to stay well away from downtown if they're going for large residential because there's a good chance everything there will continue to reduce.

The issues I have is the chances of a problematic tenant.

I didn't see you bring up this point - just the same regurgitated - cash flow (much harder and lower today than previous years), appreciation (going to keep you up with inflation unless you're "lucky" and bought in a great area), loan paydown (takes 20 years for significant paydown) and tax benefits (if you make 150k plus there's a good chance you're going to be passing these on) Why wouldn't you use your taxable brokerage instead and just pay the capital gains and reset the cost basis?

They will take a percentage, but it's your best chance to recover it (assuming they don't file bankruptcy).

These 2nd String buyers that are just waiting for their chance, are ready.

Sounds like you went over and above what was needed to confirm she was out - good for you.I believe you can go after her for the rent on the property, but if I'm not mistaken, you have a good chance of recovering 2 months worth, and not a great chance of getting any more than that. 

I just wish the GC and myself were given the chance to use our sub contractors to repair the issue as it would cost less.  

Any chance you could recommend lenders that provide FHA owner occupied loans in Puerto Rico ?

You have the knowledge, capital and or experience to have a good chance at success2.