Well Jess, after traveling around South America, I could tell you that Brazil is expensive, so is Chile. Argentina and Uruguay are no longer tropical beaches. Peru on the coast is one big desert, so if thats what you like, go for it. Colombia still has some security issues and Venezuela has Hugo Chavez.
Ecuador did look like the best option to me as well. The prices are really cheap and the beaches are beautiful.
One resource that has helped me a lot is the Guide at
http://www.EcuadorRealEstate.org