It's a good time to review markets, but living in China there are a lot of other closer, international markets that could be options as well.

Do you run the numbers yourself, do you have an internal CFO, or do you work with a fractional party CFO?

De nada 😎I don't know that market at all (FYI, I don't see this is other Midwest markets where my CFO clients buy properties), but I suspect it's related to perhaps the international investors that agent may work with...they are often cash buyers as it's very difficult to borrow here if you're not a U.S. citizen.

Second Street is an international mortgage lender actively investing in Costa Rica.

They give no official closing documents, just internal documents that I'm guessing are fraudulent. 170% profit in two years is a HUGE red flag🤯 

So, yes, you can absolutely have a great rental business as an out of state ( and even international ) investor, as long as you have a solid team that are your boots on the ground. 

H there, I'm a certified international property specialist and while i don't personally specialize n Costa Rica,  have several colleagues who do.  

Also, the state of formation is likely where internal disputes would be brought among LLC members, so if you and a partner and/or spouse live in CA, you probably want to arbitrate in CA if the two of you had a disagreement.

The internal parts are garbage.

The work around was a Mexican bank was the owner and lease it to the foreigner.It's within 50 kilometres from the coast and 100 kms from an international border, so 31 and 62 miles respectively.