Don't do this in the DR - too many horror stories and problems, especially for a foreign investor.
A better choice may be to wait another 6 to 9 months, and then swoop up a foreclosure in the Miami area. You would also get legal protection against your tenants, title insurance, GOOD TITLE, and the possibility of good financing from a bank which would be more than happy to get property off their "Real Estate Owned" account at the bank.
With a limited amount of leverage using, say 50% borrowed money, you would also get more bang for your investment, and at the same time maintain safety against going upside-down on your investment.
LOTS more foreclosures coming there, and some real deals down the road.
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