thank you @Mardochee Pierre very much although i do plan to flip it for a profit i would like to live there a year or two and make it a vacation rental when I'm not there and really don't want an inland house although i do notice a majority of the waterfront homes are actually just on a canal and there is the whole hones beech long beech rockaways etc... acting as a wall in my opinion.....mainly could you perhaps recommend an experienced inspector that could assist me when i visit the open house... they do provide all sorts of inspections and property information but i just don't trust them after all the whole thing is organized by some 3rd party company making a profit off the 6% commission at the auction so obviously they could be less than truthful... also any information from the state which owns the homes at this point i really wouldn't trust because i know the state can say one thing and than a local town official could come around and say oh no no you need to teat that house down etc...

They can only partner with a Cuban national, who has majority control (which basically means, the government controls) It was only in the last couple of years that Cuban nationals were even able to exchange property.  

Your inspector will inspect the major systems and a sampling of the units.Remember the LOI signifies the beginning of the dance not the end.Paul

Strongbrook....MLM "turn key" disaster for investors, where Strongbrook, and their management/realty/contractor co.s make the majority of the money.  

Good Luck and I will look up D&B however you should also know that the other major three credit reporting agencies such as Transunion, Equifax, etc. all have a Business Reporting Division that you can check into my thought is it probably has a very small cost. 

Curious, what are you studying/major?

@Tobey Porter You are correct that the management fees differ considerably for long term rentals typically a 7%-10% management fee (per moth) + "leasing commission" of 1/2 months rent for a 6 month lease and up to a full months rent for a 1 year lease.For short term rentals the majority of the management fees here on Mau i ranges from 20% and up 35% - and some of the larger companies like the Aston or Outrigger will charge 50%.  

Major maintenance and repairs are the responsibility of the owner; you take care of nothing but what the lease requires.Profits ...in case appreciation occurs and you decide to sell in the future. 

The property needs major renovation so there is no competition from owner occupants so there is a value add there.  

You can also do a 203k on a duplex and do some major rehab if needed. 80% ARV is ambitious in those areas but it is out there if you are willing to rehab.