I can lay some things out for you. 

Maybe you saw this from the Tico Times already, but it lays out mostly depressing details on getting a mortgage in Costa Rica: http://www.ticotimes.net/realestate/25-mortgage-ti...Please post back here if you find anything!

When relying on LIHTC to make the deal pencil, yes developers wait BUT only if they have the resources to wait and only if the property owner is willing to not close on the property until the project is fully funded.

Focus on fundamentals: buy below market value, have strong cash flow (or a clear path to creating it), and maintain sufficient reserves to weather any unexpected challenges.If you’re strategic and stay patient, this market could create opportunities that lay the groundwork for long-term success.

It does scare me that you don’t have 25k laying around if you’re using so little leverage.

So it's a waiting game for that property until you have enough to do a cash out refi.

You’ll also want to have them sign a rental agreement that lays out your rules, payment terms, and any liability.

Third, I was reading Small and Mighty (thanks Nathan Gesner) and found myself doing a "Wait a minute..." when he lays out that for B-ish SFHs he wants at least 6-7% rental income (after expenses), 3% appreciation, relative to the house price.

I have some upcoming repairs needed that outweigh the Homestead Exemption and plan to make my primary home a long term rental in the next 7 years but the repairs can’t wait.  

Just lay them off s quick a possible.