Do you really want to be the one who pays a few hundred thousand extra because you wanted the safer bet?

Your best bet might be to look for an overseas crowdfunding marketplace (which I am not as familiar as, as the US marketplaces).       

I bet he had the ability to buy if he wanted to.

I imagine that could be a double edged sword if one were to fudge the numbers betting on property appreciating during renovations. 

At the end it's a lesson learned and your best bet is to minimize your losses.

I bet if you take the cash now in 5 years you will have little idea of where it all went.

If I used WF title company to do the search I can bet you my right arm that their search would NOT advise me of the issues with the title that exist! 

Of the hundreds of thousands of users, about 20% do 80% of the posting and actual transactions I bet.  

If you agree with this strategy, do you think credit unions or banks are my best bet?

For example, if maintenance has been low for the last few years you can bet you have a bunch of deferred maintenance.Typically if you have a signed contract a title company does the initial title search as part of what the expect to be a closing.