Pat..I dont know anyone with the SRRV visa and they keep changing the rules.. I believe that you can only convert the deposit money when buying a condo..Not rent though? Perhaps they changed the rules again..
We live on Panglao island and its just about the best place Ive lived in the R.P.. Thoroughly recommend..
My mate has got a couple of nice self contained units No separate bedroom though but you can use the pool for free.. Lots of nice expats and Filipino`s passing through plus the owner Mike knows just about anything you need to know about Bohol and some surrounding provinces...
www.bingagsportsbar.com
Oh yeah..and the Beers are really really cold..
Terp will probably answer all those complicated tax questions.. I only answer the easy stuff!!