I've been surprised way too many times with major things wrong....unless the house was an absolute steal and then it might be worth the gamble.

Are there any offshore angles:- Is there potential for overseas sales or operations?

but that's what it is, everyone is beaten to death on the cash flow is everything and appreciation is gambling.. so they really do it to themselves.. and have no one to blame but themselves..  

Your gamble (and your ever-trusting Dad's) paid off.  

Still, that is just gambling with the law. 

You can definitely find a deal during an auction but it's a huge gamble since you don't know what the condition of the property is.

Hi Scott - thank you for your response... it kills me to admit this publicly, but i had/have a gambling problem.

Not sure i'd want to gamble that the junior thinks there is value sufficient to initiate foreclosure.

There have also been a lot of cranes in the air in Miami recently, with overbuilding likely....being that occupancy is probably 2-3 years out, it’s a definite gamble on the market, and the influx of South American money which saved the condo market after 2008 is no longer strong.

A more sophisticated approach that you might want to use in the future is to set up an LLC in the state where the property is located but have the LLC owned by a parent company located offshore.