It's very foreign investor friendly and a great alternative for those who don't like Mexico.The properties you'd buy in Mexico or the DR are traded in USD so your exposure to the local currency will be limited, which you can see as an advantage or a disadvantage.Colombia has transformed in recent times to become a tourism powerhouse and a favorite for digital nomads.

One final thought, for whoever is interested in macro themes: The thing to watch for on a global basis is the state of the Chinese currency.

Maybe you could purchase their house using cigarettes as currency? 

Not to mention that you are exposed to their local currencies which recently have not done too well when compared to the US dollar.

Additionally, what could happen if the currency continues to be devalued at an ever increasing rate, making it hard for our tenants en-masse to pay their rents since the bulk of their worthless cash would be going to food and energy costs. 

This is the end of the dollar reserve currency. 

Foldvary observed that crashes tended to happen every 18 years in America starting when land first went for sale in 1800, 1818, 1836, 1854, 1869, 1887, 1903, 1924, none in 1942 because of WWII, 1970, 1979 due to Britton Woods currency collapse and then 1990.

but more out of a lack of options than the strength of the currency. 

I firmly believe that collaboration is the new currency.

Certain countries like Costa Rica and Panama use the US dollar as their currency.