For Multi family >5 units should be 5-8% and flat fee (50-200) to fill a vacancy. 

We bought a land that is currently under development in the town we are going to be living (Santo Domingo de Heredia) and we have the builder already but have not done the loan yet (I heard the interest rates over there are crazy high) so I was even considering getting a loan here in the States to fund the project over there (don't know if that's even possible).BTW I met an Investor that had some Airbnb in one of the beaches and said it was a nightmare (the PM) but maybe he didn't do a good job screening the PM?

It's free and it can handle all of our tenant screening, maintenance requests, and tenants can pay online through their portal as well. 

I walked over, disassembled and cleaned the screen on the faucet's pullout hose, and it was done.

So if it’s a great neighborhood, you can charge market rents for that neighborhood, and you can screen and qualify the tenants, then why would the risk be high of getting low quality tenants?

What does your screening process look like?

If you have a great property manager that screens tenants the right way then everything will go a lot smoother.Is there anything that you would look out for yourself when it comes to rent control?

Instant devaluation.Renovations will probably stagnate too--meaning Slums cannot be to far away for some of these places.Then they they will probably pass more laws to "Crack down on" the Evil Slum lords who own these places.What's next in some of these areas, old Soviet style Khrushchyovka Grey block flats with one common kitchen for all, to house the "good" Komrads and everyone else to the Siberian Salt mines.

I can drive 3 minutes east and it's D, don't get a flat tire, dangerous. 

SFR would certainly not be the end goal of my portfolio, so the 5-10 year perspective does make a flat line or potentially declining market a little bit less scary.Have you taken on a rental in a declining local economy?