There is no way to absorb the costs of properly renovating a home in its entirety when you are dealing with $115K assets.

Most people who buy in Costa Rica do it for lifestyle and they might rent (or not) to cover the cost and maybe make a little profit.Unless mentioned otherwise, when responding on that topic I know or I have assumed that people are potentially interested in an investment property, not a lifestyle property because this is an "investment" website and people talk about STR.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

.🚨 Common issues I see:❌ Not properly tracking repairs vs. capital improvements❌ Missing out on cost segregation & depreciation write-offs❌ Scrambling at tax time instead of planning proactivelyI’d love to hear from the group—what’s been your biggest tax headache as an investor?

Make an informed decision if you think people are properly trained?

One thing I’d stress is the significant difference between Detroit proper and the surrounding metro areas.

The country is great for lifestyle and I believe most American (and other foreigners) buy for lifestyle.

If there are lease violations, mention them-you not having a key to access the unit WITH proper notice or in case of emergency is one of them.I'd also tell the tenant that they are clearly not happy there, so finding a new place is in their best interest as well and as they have several months, they should have lots of options.

I’ve never actually been legally owed money before so I was green on how to handle things while trying to be understanding and respecting other lifestyles and career choices.

If I have some cash do you recommend clearing the loan or invest instead for next property with proper planning ?