Demand, quality of tenants, etc.According to my analysis should give a 12% CoC return but this is my first commercial property purchase just like some insight or if I should pursue other forms of commercial real estate. 

Just make sure the risk/return profile matches. 5.

You will not get audited due to land values you report on your tax return.

The other person is your investment partner in LLCPartners in LLC pay taxes based on operating agreement and % ownership (each partner gets a Schedule K-1 to report the income from LLC on personal tax return)@Nicholas Dutson more details needed on your property, what it's worth, etc to answer this.

If you have them for more than 2 years they look at your tax returns to determine whether you are making money or not.

From what I understand a very good deal in a great location could multiply your returns compared to a less desirable location... just my opinion... 

You have the potential of something really great here, you just want to proceed slowly and not dunk your money until you can legally confirm it will be your return on investment.

Of course, this is just my opinion but I bet I'm not alone..If I'm an investor, I think the returns you're able to achieve in Costa Rica are higher than normal because you focus on these large properties and, as @Martin D. mentioned, prices in that country are too high and returns too low.

When I look at an investment, the question I ask is will it deliver the returns I want based on what is known, ignoring speculation. 

It has been very easy to return or get items replaced when they arrive broken.