If can't transfer the rental into LLC and there are compliance costs associated with maintaining it you might consider shutting it down.

For residential multifamily properties (1 - 4 units), can you use a home warranty to take care of the repair costs associated with rentals?

Everything you said is exactly why-- debt levels, market demand, associated costs(taxes & insurance).

I Would look to do as much of the work associated with the value add asi could.  

You need to find people who love Costa Rica and would love to own a property there but are hesitant to buy a property on their own where they will need to manage it, and take care of it, and pay for the maintenance and any other fees associated with it.  

Are you associated with RealWealth? 

On a positive note, 100% of the purchase price should be available for depreciation since there is no land associated with the purchase.I see a number of other double-wide manufactured homes available in GR, many priced well below $120K.  

According to an annual report from the National Association of Realtors (NAR), 26% of buyers were able to buy without a mortgage (see graph below):Imagine buying your next house in cash.

Let them build through hard work like teaming with reputable operator who may take a cut but own the project etc.Neal Bawa and associated companies are another bunch or lier’s who project rosy picture to sign up people but fial to deliver.Those two have made my experience with real estate very companies very negative.

This is something that now NAR (National Association of realtors) requires as of August 17th 2024.