@Diego A. the condos we did were in Pa and DE.

@Florsabel De La RosaPunta Cana gets two thirds of the country's tourism but most tourists go there for the all-inclusive resorts so you have pros and cons and a lot of the money has already been made there.I prefer the North Coast indeed  and specifically Las Terrenas and the Samana Peninsula.

Thank you @Paul De Luca for your thoughts.

If you don't mind debt at this point you could move further into NNN ownership which gives you plenty of opportunity to be involved without being on call 24/7.I'm thinking though that you might be a better candidate to use the Delaware Statutory Trust to keep your toes in the water but also have more leisure time while still generating income.DSTs work well with 1031 because you must vet them like a piece of real estate not a stock. 

@Yonathan Beltran De La cruz, Yes!

Don't DIY and Don't Hire a Contractor.Let me explain, if you DIY you would get hurt, for the amount of time that you have to be in the floor laying out and installing, If you hire a contractor de cost would just hurt your pocket.What to do, find a big site Job where you can walk in and ask for the a foreman of the tile contractor, and ask him if he do works on the side?

Here's how it works in a nutshell according to IRS Pub 946.Consider depreciating rental property costs that may last > 1 year and aren’t eligible for De Minimus Safe Harbor (more on DMSH at a later time).You cannot depreciate the cost of land because land does not wear out, become obsolete, or get used up.

Expenses AFTER the in Service date are then considered for repair vs improvement and then applying De Minimus Safe Harbor considerations.So frustrating to be the only tax professional commenting on this thread that is waving her arms and say HEY!! 

I am also a fairly new investor so looking into forming the LLC in Wyoming, Nevada or Delaware.

We invest in the fastest growing county in Pennsylvania, Delaware, and Tennessee.