This is probably quite an excellent idea. We ran our startup for three months from central mexico. It was great in every way that matters. The cost of living was really cheap. The neighborhood was really a lot safer than the ones in america. Nobody ripped us off or tried to or overcharged us. Everyone was pretty nice. Only downside was the internet sucked where we were staying but that could be rectified I'm sure.

IF there's an airport, might even be close enough for people to come down in their gulf streams for board meetings. (I don't give a damn about being close to silicon valley, but do like the idea of working near there startups.)