In addition to the kidnapping, and violence, gotta worry about the much higher rates of Amebiasis, Ascariasis, Giardia, Chagas, Tuberculosis . . . Would you eat a 20 peso taco down some alley?
If you want to live real cheap, gotta risk things with the common people. It's much safer in "ex pat" or tourist communities - but prices are much higher.
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