You will buy a specific property, in a specific location, in a specific city subject to specific local rules and regulations.

Distributions from a regulation d fund like this should be treated as passive income and therefore not be exposed to self-employment tax.

The California government will deal with the damage the same way all governments do , they will find a way to raise taxes or get the Feds to pay for it ( that will be difficult with the new administration ) Here is what I find ironic , California has C.A.R.B. to pass regulations on vehicle emissions .

The IRS has a regulation that amounts less than 15K are tax-exempt, of course, this requires you to file a tax return.

It's his niche, but I think he is very helpful for people who know nothing about international investing because there are some good overviews of the viability of the markets and regulations of STR.

If in the rare chance they do allow short term rentals in the HOA rules/regulations and association documents, don't be surprised if they change that ruling after you buy. 

Real estate agents are not highly regulated in Costa Rica as opposed to North America.  

I’m guessing that is because of your pessimistic view on the economy right now, but even if the markets dip temporarily, based on history, they will rebound to even higher points (I know just cause it’s happened before doesn’t guarantee it will happen again).Personally I have a successful business, but opted to diversify into real estate because my industry is heavily regulated and one change of a law could make me MUCH less profitable.

One that may not be rebuild able under current regulations.

In order to comply with SEC regulations, there is no platform to publicly announce your deal to the crowd (both posting on Facebook and publicly announcing it at an event could be construed as a solicitation, which is not permitted under the structure that most sponsors in the group use).