Central America is known for poor quality teak.  

Now the management and integrity of handling the money that's again another issues .. so if you have questionable collateral and poor management this end result is not a shocker at least to me.. 

Neighbors activity or their poor unit maintenance affecting your unit or tenants.

These 10 cabins I am buying have been very poorly operated, so I am buying them almost strictly at property value.

Not to mention that night I slept on the floor of that flip house, I could see all the work that wasnt done, wasnt done to code, and was done poorly.  

Doors, windows, and insulation installed. 

Following the shiny object, throwing money at a market you don't know well, and blindly trusting strangers that have a clear profit motive put you in a poor position to succeed regardless of where you choose to invest.

Or like some of the crowdfunders money flooded in and they made some pretty seriously poor lending choices and they themselves and their investors got wiped out.

Point being that property you acquire 1-2 years ago is likely to be subject to deferred maintenance and capex, so their "long term" performance in rankings 1), 3) might skew poorly in year 1-2 but may pickup  after you've found and fixed all the hidden issues.I know if i did this exercise across my portfolio, the recently acquired ones wouldn't be fairly "stacked" because of all the year 1-2 cost build up from what the seller deferred, but have good chances at being future performers in years 3-5.Maybe that's why you have 2) and 5) but curious your general thoughts here are for evaluating this. 

If the home is 100 yrs old, I'm assuming it's a definite gut which is going to require new plumbing, electrical, heating, cosmetics.I spent about $140K reno on my multi family in the heights on NY ave and there were massive problems with it but it was a gut to 3 units & adding 2 bathrooms, 3 brand new kitchens 4 bathroom reno in total, all new flooring, sheetrock , insulation, framing, doors, electrical, plumbing, paint, parts of roof etc.