Steve: If you are going to bid on an Ohio Common Pleas Court  foreclosure, the process is pretty safe because the foreclosing lender has to include a "PJR" which is actually a "Preliminary Judicial Report" which is a title report and include a commitment for title insurance should the bidder be successful and the property to be conveyed.This differs from a liquidation auction by a lender, private auctioneer, receiver (other than an actual foreclosure case) where you might be successful but the property has pre existing liens that don't get swept away by the foreclosure case.For your first one of these, get a lawyer to advise you.

Quote from @Cody Roberts: Bankruptcies have surged by 17%, if the trend continues, it could mean recession.

In your experience, how do you weigh each factor—like FICO, LTV, or prior bankruptcies—when making a decision?

The outcome will depend on the CCRs, local laws, and the willingness of the HOA to fight it.The reality is that for $500 a year, it's probably not worth you having a lawyer look into it unless you can get other landlords together on it.

I suppose this is a good problem to have, but the liability potential has me convinced I need to speak with a proper lawyer and CPA professional.I have read through Garret Sutton's first book (Start Your Own Corporation).

Always threatening to call a lawyer or the city. 

Legal ConsiderationsConsult a Lawyer: Ensure you understand the legal landscape for foreign investors in the US.

Any advice or insight would be appreciated before I lawyer up and book my flight to AZ!

I've spent the last 18 months working a side gig to deal with that and am proud that I've been able to pay off over $50k in personal debt without any bankruptcy, liens, or lawsuits.

As a side note, Floridas current insurance issues are mostly caused by other factors besides the increase in severity and frequency of natural disasters however (roofing scams and no caps on lawyers fees for claims, both results of bad government policy that resulted in most insurance companies leaving the state and the remaining ones raising rates to account for having to pay for all of the roofing scams and absurdly high attorney fees on simple claims).