Unfortunately their environment is extremely litigious, beyond reason in the fact that most citizens see a law suite like buying lottery tickets.

Monetary gifts from a foreign person (someone who has no direct connection to the US - non citizen, non resident) under $100K are tax-exempt for federal purposes and do not have to be reported to the IRS2. 

Every city has their own rules it seems - there were a few areas in the US that  short term rentals had a massive impact on (pushing citizens completely out of areas) and that scared most city governments.  

If you are a U.S. citizen or resident alien, you must report income from sources outside the United States (foreign income) on your tax return unless it is exempt by U.S. law.

@Asrar Rashid Are you a US Citizen living abroad?

Additionally, if anyone here is investing out of state and is not a US citizen (I'm Canadian), I would gladly take you out for a good lunch to pick your brain!

My wife is a US citizen but I am not. 

You can keep track of them that way.PS - Good to see a fellow Aussie on BP (although I'm only a citizen by descent)!

A week before we were meant to give notice to the landlord, she changed her mind and decided she wanted her boyfriend to move in with her.The landlord told me that since the unit would not be fully vacated, despite him making her and her boyfriend sign an entirely new lease and pay him a large deposit (partially due to him being a British citizen, supposedly), that I would have to recoup my deposit directly from her.

Type, price range, location, funding, and any potential hurdles US citizens may run into and why investing in the Caymans would be better than other areas in the Caribbean?