Of course, this is just my opinion but I bet I'm not alone..If I'm an investor, I think the returns you're able to achieve in Costa Rica are higher than normal because you focus on these large properties and, as @Martin D. mentioned, prices in that country are too high and returns too low.

Nothing else on your list matters if this purchase doesn't achieve your investment goals.Also, you have NO WAY to determine your offer price until you run the numbers!

We reach agreement in principle with the seller on what we mutually want to achieve. 

You have to determine what your goals are and then attempt to achieve them.

cashflow in residential is typically achieved either through a more difficult method, or after 10+ years.

If you buy properties in a city where rent increases don't outpace inflation, you can't achieve financial freedom—no matter how many properties you acquire.For example, suppose you buy enough properties to generate $5,000/Mo, which replaces your current income.

Depending on the neighborhood you may actually achieve higher appraisals if appraised as 5 separate units.

Building a strong team, including a knowledgeable accountant, can make all the difference as you move forward.Best of luck on your journey—you're on the right track, and it’s clear you’re willing to put in the work to achieve your goals.

There are some creative financing options and unique properties that might align well with your goals.I'd love to grab a coffe sometime and hear more about what you're looking to achieve if you are ever in the Phoenix area.  

I’m contacted multiple times a week by individuals who buy lousy real estate in Philly and I hear “ but the agent told me” or “the wholesaler promised me” it was a legal use…the rents would increase…..I could rent this section 8 and achieve xyz rent etc. etc.