I have an email to my accountant so I will see what he suggests.I think personally keeping the home and just purchasing the appropriate liability insurance would be the better option since this would be our first property and we are residents of Bermuda, an offshore jurisdiction.Peter

Max, I am not from Detroit, so I would have to find a property manager to take care of it.I was just thinking of buying a couple as a gamble more than anything else.

It seems like a huge gamble to 'part it out' unless that's your expertise.

The gamble is up to you, but in reality, you are selling the house without a warranty any way, most likely.If it is a small job, like a deck...I charge for the materials up front, with a rough in draw (about 50% of the balance) and balance sue after final inspection.

If your going to be offering at a discount price, where theres little stock, and you pretty much hold all the cards, then I'd take that gamble.

When you hire someone who is not insured or licensed to do anything you are gambling with your entire future.

This is a REAL business and it takes real capital like most other businesses.I don't mean to sound harsh but it upsets me when people think it's ok to gamble with other peoples home/shelter.

That riot will pale in comparison.Move some money off shore now, and have a proactive back up plan.

All in all in most anything is a gamble and I guess the best we can do is find the safest bet possible.

PLEASE, CASH ONLY in small unmarked bills to my offshore account!