Due to the primary language being english, the shared Tort law that we got from the the Brits, and the USD tied to the BZE 2-1 it is a place that provides a comfortable amount of culture shock to the casual traveler.  

Do I start with just a sole proprietorship so the expenses are tied to a company, or can I just record them as business expenses on my personal taxes and form some kind of business entity later?

I have seen law suits against individuals and banks where the lender tied the hands of the borrower with restrictions that kept them from obtaining future equity and the lenders lost!

Keep looking and if this comes through a few months from now, go have a look.No earnest money without bank approval unless you're OK with having that cash tied up for months.

The way I see it... this cash that I had will be tied up until I sell in maybe 15+ years. 

That's pretty straight forward.Here are the scenarios that trip the brokers and lenders above and subsequently frustrate borrowers.Properties don't show up on credit; so what, they'll be on your taxes and conventional financing requires you to show your taxes and when you do, the underwriter will tie the financed properties to their mortgages and consider them financed.They're in an LLC; so what, the LLC is a pass through entity that attaches to you personally and the lender, when you signed your closing docs, required you to personally guarantee the loan. 

Maybe the equipment needs to be stronger there. 

We’ve used the BRRR strategy many times and it’s a great way to acquire rentals at the same time, not tie up all your cash.

Your profitability is directly tied to the quality of your tenant.

Weird that i am doing that very same thing right now.See how the additions roof is 90 degrees different from the house, yet ties into it?