If you cross reference these two lists, you'll find a lender who has experience closing 203k loans AND will fund the escrow for the renovation budget vs selling the loan off at closing.

You could use the same process to create a higher ceiling, although I imagine it’s horrendously expensive and probably way outside your rehab budget.

Can't tell you if your repair and capex budgets are accurate.

I have an $11,000 budget to kick off marketing.

Some HOA don't allow for immediate rentals and your stuck with a condo that you can't rent until 1-2 years post purchase- Ask HOA for there operating budget.

Are you talking about the comp for rehab budget?

How do you guys budget for repairs and capex expenses when estimating cash flow.

Unlike Costa Rica, both these countries have the budget to massively promote tourism, which they have done and they have a middle class supporting real estate prices. 

In my opinion either way is fine, but if I were you, I'll use a chunk of my money due to your lack of experience, to save on borrowing cost and also to mitigate your exposure should you run into delays or budget overruns 

Make sure you're doing a written budget and pay yourself first.