Yes, you make an excellent point about Puerto Rico not being as big of a vacation destination as some of the other areas nearby. 

Your motivation is excellent so now you need to build credit, knowledge, resources, and connections.

You can always make it the best you can, but a CPA can reclassify it to see how they see fit.

Do you foresee those older areas having high possibility of excellent appreciation over the next 5-15 years?

I own another property across the street from the new one so it’s a really good fit.

Learn how to comp correctly and learn how to project rehabs correctly and they become neither good nor bad, just another source of deals for you to underwrite and decide if they fit your buy box. 

Considering your goals, a DSCR loan could be a good fit, with 75% LTV within reach.

Do you foresee those older areas having high possibility of excellent appreciation over the next 5-15 years? 

For the month to month tenant you can change their lease rate as you see fit… but if you are changing it significantly you should phase it in to help them have time to adjust and prepare for it (in my opinion)… maybe across 2-3 months.It’s likely that your tenants are use to each other having already lived next to each other.  

Do you foresee those older areas having high possibility of excellent appreciation over the next 5-15 years?