I grew up in the finger lakes and am intrigued by the price point, but concerned/unsure about the local economy.

Real estate is a tax law play and a local economy play.

I made the case here: https://www.biggerpockets.com/blog/this-housing-market-isnt-... and nothing has really changed other than a fear that the massive deficits the government is running are acting like a stimulus that's keeping the economy afloat but only for the time being. 

My fear is that the Tiny Home movement might be more of a fad and reflective of our economy.  

That 5 years is coming up soon and Panamanian banks are struggling to provide a mortgage on the property due to the state of the economy (less inflation than the US, but also it's just not the US, so it's different).

So, I don't think anything will be appreciating in the next 5 years (my personal view of the economy). 

That seems a little tight in today's economy to me but that's the maximum you can require.

Research local economies, population trends, job growth, and infrastructure developments to identify promising markets.

Nor are there enough of them to bring down the economy like subprime in 2008.  

Long terming it, especially in this economy, isn't wise