Sink Hole Issue

[Denny Pugh]

Looking at a house near Ocala Florida being at auction with tenant in place and I cannot preview so its a wild card. Have seen pictures, they look normal. Not really a sinkhole where the ground collapsed but did have settlement that caused some small cracks in the walls and did require that repairs be made and they do classify this as a sinkhole. It has has been repaired using "compaction chemical grouting method" which is the normal method of repair for these type problems at least from what I find researching it.  The Engineer did not find any structural issues, specified the repairs he felt were needed to stop the settlement and county has checked off on them as being completed as specified.  Home is 7-8 years old 3/2 typical CMU & Stucco Florida home. Nothing special really. Checking with my insurance carrier there now to see what the insurance issues are. 

Lots of homes for sale and lots of foreclosures seem to be still happening so if I buy this one it most likely be at least a hold for several years using a local PM company. Has a long-term tenant in place willing to continue paying reasonable rent. Home has been for sale priced pretty cheaply for a while but did not sell and the owners/property developers are in bankruptcy. I do not plan to make anywhere near a full price offer and may not make an offer at all.

From what I can tell this is a common issue in many areas of Florida and I wondered if anyone makes this a niche they look for ?