James,Where I live in Prosper, I am paying about 2.5% in property taxes. 

You'll never be more incentivized to learn all you can about something than when your financial well-being and prosperity are dependent on it.

We currently live in prosper where it is booming!!!

Happy and prosperous new year. 

All the best and a Happy and prosperous New Year to you in 2016!

Higher exit cap means lower real estate prices, and since we came out of a decade of prosperity, it’s only reasonable to assume that the market will not be as strong when you sell in a few years, and hence cap rates will expand, as real estate prices go down.

just a suggestion.but this could be a situation were you keep your 4k liquid so you have reserves etc.go ahead and get one of those on line loans  like prosper etc that tend to have lower rates than CC .get enough so you can for sure make it habitable but do keep in mind refinancing with that low of loan is very hard to near impossible.so make sure you keep powder dry to pay for the payments and upkeep of the property. 

I'm sure we all know there are some bad areas there, but what are the chances it becomes prosperous in the near-mid term future?

Many thanks Stay Prosperous.

It is great to know there are Dominicans like yourself wanting to prosper!