If you provide the appraiser with that data, then they protect themselves and everybody is generally happy.

Specifically, I have had my eye on countries in Latin America (ex: Nicaragua, Ecuador, Costa Rica, Panama, Mexico), which combine low real estate costs with reasonable rents (which makes for good cap rates) and a low cost of living.

Learning about RE has been eye opening for me and everyone has brought up very good points. 

She is my eyes and ears and the best boots on the ground one could hope for.  

Protect your investment, its business!! 

What else can I do to protect myself in case somebody want to play smart with the law?

A new policy has been implemented so my attorney and the bank has made it clear that the next thing before funding can be fully carried out is to have the loan insured in your name, the reason for the loan insurance is to protect you against any future lapses or default from your end to make repayment on time, the loan insurance policy need to be obtained in order to get funds across to you and the fee to have the loan insured is $3000 and the process will be completed before 24 hours.You need to make this payment today so we can finalize the loan later today.I await your response ASAP so we can proceed with the loan transaction.Note: The insurance fee is 100% refunded at the point of funding and you are expected to receive the insurance fee to be added to the loan amount at the point of funding (a total sum of $178,000.00 as against $175,000.00."

I have several times. the "eye to eye" route above works, i used cash for keys for a couple of them.When that didnt work, i had to evict.

Loss Prevention companies use them to document crimes for easier prosecution, IF they are able to get a good picture of the criminal.Fun Fact, most state audio recording laws were conceived to protect our 1st amendment rights to Free Speech.

I will link a couple articles that go over a birds-eye view of the different options.