I'm not opposed to buying a four to start if I can find a PM in the area that will service that and then turn that into a 20+ 12 months down the road. 

Real estate agents are not highly regulated in Costa Rica as opposed to North America.  

If rents are truly below market then it usually comes down to: Long term tenants which most owners are ok renewing for lower ratesNot wanting to fix the place up to bring units to market, either interior renovations or exterior renovations.

New roof, interior & exterior paint, finished additional living space What was the outcome?

Most investors buying into Australia are looking for long term capital growth as opposed to great cash flow.  

I think the last one I did was about $30/hour as opposed to what my gas guy charges which is about $125/hour.

See below for explanations, with headings taken from the attached document.Broken windows or exterior doors-The two narrow windows in the living room do not fit into the walls properly.

I do try to get a full size stove and ovens in any unit possible as opposed to the smaller apartment sized ones.

With a dozen properties over 25 years I have yet to spend a dollar on a roof or painting a house exterior.

You might be able to find a lower price point per unit than I’m at but it’s a LOT MORE WORK to have low quality properties as opposed to nicer ones.