A lot of topics but will address some of them. We have lived here for nine years in the Granada area and these are just our opinions. Many are not problem areas, just cultural differences and some are simply because it is a poor country.
Superstores / American Chain Stores
Once a month we go to Managua for the better stores and to buy bulk goods. We have PriceSmart which is Costco and Sinsa which is similar to Home Depot or Lowes. Simans is similar to a J.C. Penney store.
Traffic
When we first came it was mostly bicycles then later motorcycles and now cars as the country improves. Traffic in Managua area is becoming pretty heavy but not yet as bad as the states. The frustration in other areas is getting behind a slow ox cart.
Corrupt Police
Depends on definition of corruption. Policeman make $150 a month. Most times we are stopped by police is to check our documents but if we have broken a law, you can usually pay the policeman a couple hundred cordobas (less than $8) to avoid having your license confiscated until you pay the fine. Still keeps people obeying the traffic violations.
The Roads
The major roads are the best in Central America. If you get off the major roads it may be a bit rougher. We have 4WD but use it very rarely.
Pollution
No appreciable pollution though your next door neighbor may be cooking a wood fire and sometimes they seem to be burning plastic or rubber.
Everything Takes Longer
Yup, hasta manana. If you pay more, you can get more professional workers that arrive on time.
Higher-Than-Expected Cost Of Living
No, I think the cost of living is extremely reasonable which is the major reason people move here. It costs more to live in the popular expat locations such as San Juan del Sur, Granada, Leon and Managua. Depends on your requirements. I know people living here on $300 a month and others that require $3,000 a month.
Noisy Neighbours
The major towns are very loud which is why we recently built a home outside of Granada. Even at a first communion the music can be loud and they love fireworks here for every holiday.
The Beef
These days you can get very good meat and if you must have the quality, they sell FDA approved meat products in Managua and in some of the larger towns. We find the food to be excellent.
Government Monopolies
Not that much different than the states. There is some corruption in the power and water utilities.
Finding Low-Sugar Drinks
No problem now. They have diet Cokes and Pepsis but the natural jiuces are excellent.
Electrical Outages
When we arrived we only had power for 8 hours a day. Now we may lose power for a few minutes a month but it gets worse in the more rural areas.
Air Conditioning
We have not used A/C in many years. It is imperative that you find a home that has good air flow and we always install industrial fans above the beds. In our new home we did not even install A/C.
Lousy Public Transit
I think the public bus system is very good though often crowded. We took the chicken buses all over the country and taxis are only 10 cordobas ($.40) in Granada no matter where in the city you are going. We do have a vehicle but most expats do not.
Poor State Of Sidewalks
Not a lot of sidewalks here so people often walking in the streets or roads. Covers for water meters may be missing.
Guys With Shotguns
Very few guns here and many of the guards do not have any bullets. Very little violent crime though petty theft is rampant for tourists.