And then, you'd have to deal with the locals as a gringo so you are at a disadvantage compared to the locals and you could be taken advantage of.

Whatever you call it, you’re comparing different investments based on their yield.Another way to look at this is to think of IRR as the rate needed to convert the sum of all future cash flow to equal your initial investment.

Pricing is typically comparable to the online sites. 

If you believe hiring someone would be cheaper compared to when you do the job and include your time, I would say hire a handyman.

Obviously rent goes up as price goes up but at some point it just isn't a great investment compared to what you can get in the lower price bands.

It seems very low risk (cost of land and holding land is cheap compared to purchasing real estate up front) and doable in an expensive market?

., lack of winter accessibility) is eligible provided the appraiser includes at least one comparable sale with similar seasonal limitations to demonstrate the marketability of the subject property.

.), how much capital expenditure would you include compared to normal?

In short, this number is the ratio of what the Loan amount will be compared to the Value (ARV) of the property.

How do these numbers compare to what you are seeing in your market?