The current owners purchased it in 2005 to convert into condos but when the market crashed they stopped construction.

I have had success in investing in condos in South Beach, but it was all about timing.....they were acquired on the rebound from the real estate crash in a buyer's market/ Now prices for condos in South Beach are skyrocketing and the capital appreciation has been well worth the investment, even though the cash flow wasn't great (but still positive) over the years!

Even these experiences haven’t been horrible and they have allowed me to ‘jump right in’ and engage in a crash course of learning and learning about my building.

I doubt you'll find people willing to keep a lot of $ in an escrow account under your control, but I think it's reasonable to talk with clients about their reserves so you don't get unpleasant surprises later.My current PM doesn't have me keep any reserves with him, expenses are taken out of the monthly cashflow and my account is "zeroed out" at the end of each month.

I am a long time lurker and reader of BP and, I decided that I should jump aboard to take advantage of all of the benefits that BP has to offer.My background is in real estate and finance having worked with developers prior to the crash and with an international real estate company in their auction division.

I'd rather not crash and burn so I don't get into jet fighters.What just astounds me is that there are real human beings that can not fly a helicopter or even a remote control airplane yet they are eager to get into a jet fighter.

I have studied investing (primarily stock market) for much of my life but have in the past not done a good job getting a base below me so I can really apply that knowledge in earnest. 5 years ago just after remodeling a home with stone walls built in 1900 with a naive understanding of what the costs and time inputs would be, the housing crash happening right in the middle of this, persevering and turning it into a beautiful home.....Then I was laid off.

(So look to their latest 'market cycle' schemes, media hype, 'fear mongering' tactics, and the prior 'bank panics' to 'stock market' and 'real estate' crashes... particularly over the past century.

That's what financial regulation is all about, protecting the public, the economy (like the crash) stockholders, buyers and sellers in real estate and commerce in general.

But the most important provision every charter must state is that the only way a shareholder could vote or complain, was they couldn't file a lawsuit they can only go to arbitration. that right there could save face in case you get people upset which tends to happen when the market is crashing.