For example, are there specific documents or information I should prepare, or would identifying a target property first be more beneficial?

Quote from @Fidel Mercado Gonzalez: Hi Theresa,Thank you for sharing this information—it’s really helpful.

Sarah Larbi Costa Rica is a great place to own a STR!

Bigger Pockets is a great place for education and networking and is full of great content.I recommend that you check out the following resources:1.

Any property that has ever been on my website, I have ownership in. 

So basically in my mind this would not be a great financial move as we be accruing about 200k more in debt if we were to sell one house and take the cash from there and use it as a down payment.

I would great appreciate more info in order to make a more educated choice.

However, this information is beneficial to the rest of the BiggerPockets members. 

This is a great place to learn and to connect with people so take advantage of all the great resources.

There are some great suggestions here on down payment, interest rate, servicing, and underwriting the borrower.