But most places I looked at were either already discovered and expensive (such as the island of Bali, Singapore) or too risky (Asian countries with unstable politics).I grew up in France (many years ago) and didn't really want to invest there because of the "socialist" rules penalizing investors.

@Michael Solomon Its funny that you mentioned it, because I've been able to find some pretty cheap deals in that area the last two days.

You live on a nice little island there.

First the intrinsic value of a property is land+sticks&stone+labor.

I am a newbie investor with 2 properties located in the Long Island, NY area.

I see you're from Long Island, currently one of the hot spots of coronavirus chaos. 

Jill,Luckily the house is pier and beam so plumping shouldn't be that bad since there's crawl space, as for the bathroom If I'm going with this layout it's going to be expensive to relocate bathroom and the kitchen together especially with the middle wall being load baring I believe,  but if you noticed there should be some extra space from the kitchen I think there should be 5 feet between the Island and the living room so the couch can be shifted a a foot or two to the back making the living room a bit bigger. 

Utilities are very expensive on islands.  

@Pawan J.Hey Pawan, from the time you wrote the post, the Vancouver island market north of Nanaimo really jumped. 

I am writing this for new and experienced investors on Long Island, NY.