His mistake was underestimating how much the loan repayment would eat into his cash flow.

You have to use treated or the termites will eat it.There are very few small farm tractors in Belize. 

No reason to wait and eat 3 months of rent.

Because it sounds to me like you want to have your cake and eat it too.

He may have to eat those additional expenses if he can't prove he had approval prior to doing it.c.

Quote from @Daniel Araque: Thank you Georgy, that paints a much clearer picture for me.Essentially it behooves me to pay off my line of credit as fast as possible because the longer it takes, the more interest I'm paying which in turn eats up my total profit for that single investment.I did the math based off the following numbers. $10k line of credit at 8% , 10 year payback, $121/month payment. $1k personal cash flow after all bills/expenses paid.

A guy named Ken on my job would eat lunch with me and tell me everything he knew.

RE is a lot more active and involved, even if you hire a PM and a GC which BTW eats up your returns.

Kentucky keeps eating! 

I'm not very familiar with these markets but I've found Columbus has great tenant quality on average, less property crime, and great appreciation potential.Any market can offer killer cash flow with those lower purchase prices, but in my experience, you're more likely to run into challenging tenant situations and higher maintenance costs that eat into those returns.