Quality pics are by far the number one contributing factor.

I removed our debt (P&I) all other expenses have been factored.

Developers will not be able to get these bonus building permits without providing such TDR credits.  

That’s less about the numbers and more about developing a niche and understanding your product.

The cash on cash number is what I liked about it and I think the Capex will not be a big factor because of the Tenants already are there and have been there and want to stay for long term so vacancy was set lower.

The government of Costa Rica has a policy to limit development and doesn't invest much in infrastructure to bring tourism.

When I'm looking at potential opportunity, price isn't that big of a factor.

With careful planning, you can develop a portfolio that consistently outpaces inflation and helps secure your financial future.I hope this helps.

(Of course, there is a factor that higher rating will increase my booking but that is not just coming from adding one or two amenities) Besides item 5 and 6, I am not sure how much other items will attract more guests to my business.

That is $19,200 annual profit so you would be -$3,200 in 1 year with no factoring of breakage and maintenance.