This is very dangerous territory from a legal standpoint.

They are a bit of a gamble because you don't normally get in to see them, but they can also be dangerous in the liens you're left with! 

TIA, Jessica  VERY dangerous journey.

If there is an existing foundation can I use that or do I have to excavate it and pour an entirely new foundation.Like you I know enough to be dangerous to ask these questions...but I don't know which contractors or investors to ask these questions of. 

Throw in no money which is high risk and you are in a dangerous spot. 

. - would be to take a purchase & sales contract from a wholesaling course/guru (there may even be something here on BP, I don't know) and bring it to a Rhode Island attorney who specializes in real estate, and ask them to "bless" it as acceptable or modify it as necessary, or just give you something that will work for your situation/intention.It's dangerous to just take a contract from a course/guru/website and use it in RI (or any state) without review by an attorney, because real estate law is very state-specific.

I am just wondering what others have experienced as I venture into this territory.

There are other REI strategies that work in hot markets, but I think this one is dangerous. 

I understand the thinking of the HOA, denying use of HOA assets if the fees aren't paid, but IMO, there is a collection line crossed by putting you or the property in danger and undue hardships in the collection of HOA fees.

Probably with less cashflow.Puerto Rico being a US territory is a different animal.