can my wife and i live in las terrenas DR wiyh 1200 a month

Welcome to the forum.  Its not easy to simply say yes or no to this question.  It all depends on what your needs are.  I can say probably if you life a simple lifestyle, cook local,  don't go out all the time for dinners and drinks.

Tell us more about you, about your needs,  for example will you buy a place so you have no rent to pay or will this 1200 need to include rent? 

Once we have more info we can help in a more meaningful way!

very difficult to do.
Forget about a car.
Good luck.

I agree with Tomas it will be very difficult.  To live comfortably you will need at least twice that.

BObK

Again how can any of us really  say without knowing more about you! It CAN be done but it is highly unlikely unless you know the systems here, can speak Spanish, like a very simple lifestyle, have capital to buy the things needed to sustain a lifestyle - furniture, backup electrical system, maybe a house or apartment etc etc.

I can see 1200 a month might be stretching it a bit for a couple but for a single like myself I was planning on 1000 a month.  That wouldn’t include rent as I plan to buy (if I rent I would go higher).  I figure the cost of food, condo fees (with utilities incl), health care and insurance would be around 700, leaving me with 300 left over for emergency (or fun).   I don’t plan to get a car, have already budgeted for initial things like furniture, residency/cedula, lawyer’s fees etc.  Am I missing anything that should be included?
I also wasn’t planning on working but as Planner mentioned in an earlier thread, working supplements your income and helps create your social network so that may be an option in my future.
Another thing Bob mentioned, if you’re moving to DR to escape baggage back home it usually has a way of following.  As the only baggage I’m leaving behind is winter cold and snow and it follows me down we’ll all be in trouble!

Of course, there are Dominicans that live on half that. But you probably do not want to eat arroz con gandules every day, live without electricity and have a bucket flush toilet and take baths with a rag and a plastic tub.
Rent/ housing is much higher in Las Terrenas than in less touristy places, That would be the most expensive part of your budget.