@Chris Paulus Have you made a purchase in Costa Rica yet?

So to answer the question specifically no I would not buy a property that did not cash flow and only for tax basis.

Stats can be foundhttps://www.ramaui.com/housing-statisticsOr for all islands herehttps://www.hawaiirealtors.com/resources/housing-trends-2/Your realtor can produce more specific stats on your area of interest.

Was that purchase money, rate and term refi, or cash out refi?

And even it's SF when you purchase it, again because it's not 100% MF including the county/city classification, you can use rental income from both units to help you qualify for future investments.Option #3 is something to use only when you're not willing or able to move into the property.

I want to purchase an underperforming asset at a Price of X.

I started a new post asking people's thoughts about insurance costs in your local area and specifically costs to rebuild and other challenges:https://www.biggerpockets.com/forums/95/topics/1227051-insur...

Purchase price: $205,000 Cash invested: $60,000 This was the first property I purchased.

Purchase price: $375,000 Cash invested: $30,000 This was a 2 unit that I purchased in 2016 for $375K.

This would allow you to indefinitely defer all of the tax if you sold, and use the tax you would have had to pay, to purchase something nicer in an area with a greater growth potential.