There’s huge retal income potential if you nail that balance between improvements that wow tenants and improvements that merely look fancy but don’t justify higher rents.I’d also keep an eye on how your high end plan fits the local demand.

@Dan Geffen moved down there and knows the area well if you want to connect with a local investor.

A good property manager can help with tenant screening, enforce lease terms, and handle evictions more efficiently if it comes to that.Require a Larger Security Deposit: Within the bounds of local regulations, a larger deposit can provide a cushion in case of damage or unpaid rent.Consider Rent Guarantee Insurance: Some companies offer insurance products that can cover lost rent in case of tenant default.

I would consider the tenant's past, as well as the condition of the unit, my local market, and other factors.

First you have to face the local municipalities & will be extremely difficult to get the zoning approved. 

@Jason Khoury I purchased my current residence, a duplex, from a local non-profit about 5 years ago.

There are also some locally I think through the AAR, I would reach out to them but if not I am happy to help!

We worked with a lawyer over there who is a US ex-pat who created and registered a local LLC for us, which owns our properties.

I honestly wouldn't trust anyone else with my clients but him when it comes to that local market.

If the locals say it's rare then I would not worry.