(veddigne) in lower priced rentals say 1200-1500 grimslov I’ve put in luxury rentals 3-6k and my own home.  

I'm thinking of buying a luxury condo as personal residence (not rental property) in Union city around Palisades Ave.

Yes Will that's sound advice, unfortunately I do not have the luxury of family and friends with any money to lend.

I like to bid on luxury properties with big tax bills because the competition is low.However, you have to really be sure there are no bankruptcies, legal entanglements, foreclosures, etc.Just a couple of strategies...

They could do high volume and have large teams, or be crushing it with high end luxury deals.

Their settlement with the insurance law suit has left them without enough funds to cover all the repairs needed to bring it back to condition, so he is trying to find a way to sell it and satisfy the mortgage and perhaps be able to keep some of the settlement to help with other expenses since the storm such as lodging for approximately 2 years, etc.

I don't have that luxury with this since I live in FL and the property is in MD. 

One has to actually put in the effort and start to free up some time in order to hangout in the places where foreign investors, who are often luxury buyers tend to be in.

I suspect that during the years ahead abandoned real estate is destined to be a growth industry.http://www.forbes.com/2011/03/23/abandoned-mansions-luxury-real-estate-forbeslife_slide_2.htmlOwners of abandoned property, who can be found, would be offered a token cash payment for quit claiming property that they have already abandoned or intend to abandon.

I look at the lifestyles of the tremendously wealthy that have come out of real estate (today its not too hard to become a millionaire if you play it right), big mansions (if you can do what Cardone said, and pay the house off in cash),  luxury cars, you know high class living.I'm not necessarily looking to make it a career, rather one of many sources of income to build up a pretty net worth.