I think we will likely only keep it for 5-10 years as it is several hours away, but you never know.

High risk of lawyers buying a unit, tearing it apart, finding one thing not to code, getting the rest of the condo owners to sign on to a class action lawsuit and hood every subcontractor, builder, architect hostage for an insurance settlement.

I could list several more incidents.

Getting a quote on hazard insurance is another great idea as well.This investment comes with more risk than I would like.

And we still have several years to hit your age that you would like to have as the limit. 

I won't be able to invest for another 5-7 years since my wife and I are working on paying off debt and saving up for a down payment on our own home here in Florida, but real estate really interests me so I am trying to learn as much as I can so that when we do decide to dive into it, hopefully there will be several things that I have a decent base in.

Read Trepp-Wise it has a lot of stories on foreclosure, it seems the highest risk is in office.

However, our tenant, who did move in, has been asking for her money back for several months to no avail.My name is Rick Stewart andsince this website does not allow me to post my email, you can find me on FaceBook.

Like you, I've ruled out several already. 

This can work - I personally would be very careful using my parents equity and start small but everyone has different risk tolerance.