@Taylor DaschYou can buy the property in your own name if it's outside the so-called restricted zone.

Quote from @Raul Velazquez: Hi powerful BiggerPockets members!

If so can you tell me more about your experience?

Speak with lenders early to understand your borrowing power, and explore multifamily properties to maximize your house-hacking potential.

Right now the only utility at the garage is power so basically I am starting with a frame and a roof. 

Assuming you could take out a couple 100k you would have the buying power to start a cash recycling business (brrring or flipping).

So, Anca, your parents can 1031 from one property into more than one. 

Leverage  anything in the US  so you can  use the cash to buy in CR  ( US home / 401K / other assets ..etc)  ...pura vida !

Insurance : This area of consideration deserves its own deep dive so we’ll briefly highlight key concerns. - The underinsured.

I actually used to have a game modeled after Monopoly that was called Slumlord😂 same type of antics with buying property, maintenance cards, dealing with code enforcement etc… Bought it at a real estate convention