I live in Freeport, Grand Bahama Island....my work permit is $7,500 per year....I am here just for the work...IMHO there are much better places to live and work in the Caribbean....I lived in Aruba for 7 years and loved every minute....
my contract in The Bahamas is up next year.....I'm looking at Cartenga Colombia....yeah....yeah....I know....but it is relatively safe....the old city is fantastic.....and prices are rock bottom.....beer....on the beach is 60 cents.....
I have been in this condo....I met the American owner in Cartenga last year....just after he moved in....Ocean Front....as I recall he spent $62,000 US....then another $10,000 or so to furnish it and fix it up....he rents it out when he is not there...
http://singletravel.com/cartagena/