I understand Costa Rica may have different requirements, but $600 sounds steep and having to do it every year seems excessive.Thank you to anyone who can give me some advice.

Holding properties in an LLC (or other legal entity) can offer valuable protection for your personal assets, so I understand why you went that route.

For example when someone wants to have financial freedom and spend more time with family, but then sets a goal by creating a heavy active income stream that involves their personal involvement daily.

The bank then understands that their borrower no longer owns the property and calls the note due.

I am particularly interested in understanding various investment strategies, networking with experienced investors, and finding my first rental property.I believe that learning from others' experiences is invaluable, and I am here to absorb as much knowledge as I can.

The settl4ement was private, but I bet it was at least $400k knowing the attorney's involved, maybe more. 

While many of these issues are important considerations and should not be ignored or overlooked, there are other more crucial criteria that you must question and evaluate first.The critical risk criteria that you must review and evaluate prior to making your final decision on which 1031 Exchange Qualified Intermediary to retain includes, but is not limited to, the following areas:Technical capability of the 1031 Exchange Qualified IntermediaryInternal processes and audit controls to safeguard your 1031 Exchange funds and assetsUse of Qualified Trust Accounts or Qualified Escrow AccountsDecision criteria and guidelines for investment of your 1031 Exchange fundsProtection from potential errors or omissions by the Qualified Intermediary (E&O Insurance) Protection from potential theft or embezzlement of 1031 Exchange funds (Fidelity Bond) An experienced and professional 1031 Exchange Qualified Intermediary will understand these concerns and should be happy to discuss these crucial issues with you.

I don't understand the rationale in not raising the rent in the case that they are very far under market.  

Get a damage restoration company involved.

That said, we understand that insurance details can sometimes be complex or overlooked during the decision-making process.