There are other considerations such as UDFI taxation you will want to evaluate, but the basic answer is yes.

I am not aware that there is a double taxation treaty between US and Costa Rica. 

I would prioritize finding an accountant who specializes in real estate taxation over one that is local.There are 20+ accountants on this message board who specialize in real estate taxation.

I would prioritize finding an accountant who specializes in real estate taxation over one that is local.There are 20+ accountants on this message board who specialize in real estate taxation.

Once I get a handle on how to conduct REI in Canada, then I will be brave enough, to take on Corporate USA structures, big & expensive USA accountants, USA Bank Accounts and the IRS (double-taxation from what little I presently know) - only because the USA is still on sale, (albeit not as much as it was), otherwise, I'd skip the hassle, and just move directly to vacation properties in the sunnier & warmer climates.

Read more: The Basics Of REIT Taxation | Investopedia

. - In principle, I do not believe in forced charity or legalized theft through taxation to give my hard earned money to someone who did not work for it either; however I also realize that people fall on hard times often through no fault of their own and still others just make a series of poor choices...

;At home, find yourself and accountant and attorney familiar with both real estate and cross-border taxation / corporate organisation.

Thanks to various factors like taxation etc., but this is and has been an established fact for pretty much forever.

Garrett,I recommend finding an accountant that specializes in real estate taxation.