Is investing in real estate in Puerto Rico a good idea?

Yes, hugely, especially if you live in the PR house more than half the year.

Thank you for your time victor, I will be taking a trip to see some properties very soon.

The real estate market in PR is relatively flat, so anyone shopping for a home is doing so at a good time.  Since there was never the bubble here (like in Florida) there is not the extreme movement in price as is there.
Basically there is an 100% exoneration for your home's real estate taxes if you live in it--based on a complicated mechanism dating back to the 1950s.  Even on taxed properties the costs are quite low comparatively.
Like anywhere a house on land is a better investment than most condos.
Puerto Rico is an excellent place to live.  Most people who come here from the states are amazed.  Of course you get the beauty of nature and the climate thrown in for good measure!