I'll still be saving a ton of money from my job income, it's a win win.

You win because you will get a piece of real estate all fixed up after you friend works on it.Your friend wins because he is compensated for the work he did.If you do decide to go the partnership route, spend an hour or two with an attorney and have everything in writing.What is each partner's ownership percentage?

So still a win!

You have to make it a win for your lenders as well!

Win some, lose some.

FHA vs conventional; conventional almost always wins.

Bid, win, give deposit, close.

Also, if they seller has no money to put up because of the bankruptcy, what are my options even if I win a case against him?

We can come up with much more Economically viable solutions to the problems many of these cities are facing and make this a win win for all parties involved.

The only efforts taken to sell this property so far have been listing with multiple local realtors and telling friends and family in the area about the condo for sale, offering a finders fee for whoever is able to find a buyer.I am using this opportunity as a chance to practice my ability to market & sell real estate, and perhaps win myself the commission.I am not aware of any central marketing systems in Colombia similar to the Multiple Listing Service, and craigslist doesn’t exist in Colombia either.