I also run investor retreats out of them so they serve multiple purposes.I would say that it takes a specific person who wants to invest in Costa Rica.

@Chris StrausbaughWhat state as in many states a lost note can still take action - especially non judicial states

Then determine your burn rate, days between call to cash, take down ability and average profit per opportunity. 

@Jason Wray, thank you for taking the time to respond this makes a lot of sense.

Coghill they are trying to take care of several things:1) Approval to access credit reportsA video tour of my home office (required by the credit repository to show security, so access to office & computers is limited to avoid data theft)Credit checks on me and my partner (required by the credit repository to make sure you are not criminals looking to steal others' data)Copies of the deeds for every property we own (required by the credit repository to confirm you aren't just self-serving)A copy of my partner’s home lease and utility bills (required by the credit repository to prove his legal address, so they can pursue him criminally if he steals data)Business phone bills (required by the credit repository to prove an actual business)2) Approval to use banking ACH system to accept tenant payments and pay ownersBusiness phone bills (required by banking industry to prove business legitimacy)A signed letter from the bank verifying our accounts (to prove legitimate business banking accounts.

Higher-quality areas attract tenants who are more reliable and tend to take better care of the property.

The IRS is taking a more conservative approach and you want to ensure you have all your ducks in a row + a team behind you to back you up if something comes into question.

It’s great to hear you’re ready to take things to the next level in the residential space.

The bottom line is that you'll want to learn from someone for the first handful of deals and progressively take more and more on yourself until you can fly on your own.

If you don't get access to the property before closing it can be tricky but if there are recent photos online or you can walk through before and take your own then it is much easier.