I suggest Colombia, you can find greatest rentals for less than 300 USD, and cheap cost of life and amazing food as well. Thinking in cities like Bucaramanga, Santa Marta, etc.
I love the Colombian caribbean coast, so that is why is my first recommendation to the OP, the weather is perfect almost all year round, and with a modest budget he can definitively have a moderate (and even higher) lifestyle with no much compromises.
This means to assure that you can get a solid tan before the arrival, keep a low-key profile and try to keep your mouth shut in crowded places to hide your non Colombian accent, even if your Spanish is fluid.
Cheaper than USA for sure, but also not a fan of the food in Colombia either. Or most of South America when compared to Asia. :D