In a catastrophic event- most likely a hurricane or flood from storm surge given that it's in the Caribbean, the Strata maintains enough insurance to rebuild pretty much entirely, this is part of the Strata fee, which is quite reasonable given the rental rate. 

I have had to use them twice in natural catastrophes and had zero problems, fast service with good results.I do not work for either of these places.

The math doesn't take as many 150K+ incomes leaving the State as you'd think before it's catastrophe. 

I know rockstars are only one getting a spotlight in BP but no one says any of their catastrophic failure here because they left real estate for good.

Also have cash on hand for any catastrophic repairs or long term vacancies that might come up from current properties.

A good broker can help you find the right policy for any and every property so that you have protection against catastrophic loss.

I believe it tends to give me a slightly lower return, because the sponsor is going to be more careful, and if there is a severe downturn will prevent me from taking catastrophic losses.

If you have property management, you're not visiting very often, but if something catastrophic happens or you need to sell for some reason, you and your agent can just drive out.

If it’s your first property and you’re not worth more than $1m, you will get significant interest rate advantages for putting an investment property in your personal name and just buying an umbrella policy like $1-2m (mine costs me like $300 and also covers if I have a catastrophic auto accident). 1% interest rate differential on 30 year loan for $500,000 can be tens of thousands of dollars. (5,000/year more then declining as you pay off the principal, but a ballpark of 2500x30 is $75000 more in interest (deductible)).

If tourists stop coming there for any reason, it'd be catastrophic for the country.You have the same exact beautiful coastline a few hours drive up North in the Riviera Maya, which is one of the most visited places in the world.