"You see a slow and steady growth in value, rather than the fast runup in values that you saw before the Great Recession." 

Puerto Rico is in a decade long recession, and my gut tells me that there are many real estate opportunities across the Island that once the economy gets back on track, the properties will appreciate greatly. 

Then the recession hit and wecould not even get $10K for that same Mobile once the buyers walked away from it.  

Even during the Great Recession, rents barely dipped here.You are right if all you care about is cash flow for the next few years, then the OP should maybe think about turnkey.  

Crown moldings, in-ceiling speakers, and recessed lighting add to this beautiful unit.

During a recession luxury markets historically struggle.I also am still a firm believer that every STR should stand on its own as a normal LTR given the real legislative risk all STRs face both from local community boards and Hotel Lobbyists.

Back during the Great Recession, credit lines were closed/frozen for very credit worthy people.

A little hard to tell with all the recent talk of impending recession and Salina's ascent being of the slow and steady variety, but what's real estate without a little risk, right?

With prices back to pre-recession levels in many areas, and the lowest inventory in 50+ years, it certainly looks that way.

Even if the Numbers work, the area may not be appreciating or our Economy may be ready for a ready for another Recession and not the right time to Buy anything, long term.