But it's playing with fire to buy there if STR is a priority as it's very likely they will eventually start enforcing it better.Yes I've seen this same thing in some of the markets we operate in.

Im working on getting another appraiser over there in hopes i can get mid to high 6's Maybe try a BPO - this will be cheaper but not as detailed and should give you a general idea of the market - its much more expensive and time consuming to get an appraiser if your going to do multiple of them.  

I understand it’s a different market but I think $1200 is a pipe dream.

For my money, I'd look there and let the market bring you up.

What is REIA, where can I learn more about it and where do Real Estate Investors meet in Puerto Rico?

Additionally, in the past six months, I’ve reviewed about 45 multifamily properties (ranging from 10 to 80 units) for my real estate private equity firm.

Have you decided what market will you be focusing on, and do you have a particular strategy in mind? 

Hey George, congratulations on starting your real estate journey! 

@Charles F Dominie, I'm in your market.

Real estate is all about learning as you go and playing the long game.