But remember that clause in the lease about how the tenant is responsible for foreign object blockage in the plumbing system?

A few years ago, I spoke to a few wealthy foreign investors that bought properties in "bad areas" in bulk.

Beat all the odds, a foreigner, looking and smelling like a monkey and I made it.If I can be a robotics scientist building exoskeleton robots (think Ironman) for NASA, do you seriously think I will fail at SEO?!

However, all of those things, including the property should be depreciated properly.If all of this sounds like a foreign language to you, that's just one more reason to hire a knowledgeable local CPA (grin).

I did some research into the rules on taxation for gifts from a foreign person and wanted to confirm my understanding (given innumerable loopholes/gotchas in the tax code).

My only question with Costa Rica would be how does the local law protect foreign investors? 

There is a Foreign National DSCR program available.

The house was purchased in 1984 for 75K, which means that on a 30 year loan, 7.5%, 100% loan, they would owe at the most 26K now.Or, they could have refied and currencly owe $90,000!!!

They will look at a sponsor for the foreign national as a partnership.

Foreign income counts......Provided you did your patriotic duty and paid American taxes on it.Normal continuity of income rules apply.