I'm gonna take my time considering the US. Foreclosures and distressed selling has not reached bottom yet as far as most learned pundits on CNBC business news are saying which I was glued to last week.

I would'nt pay any developer a penny up front - so many are going bust and lets not forget even big Banks like Bear Sterns can go under so certainly NO developer can be 100% safe.

Im not convinced on the rental yield of some of the Florida touristic property Im seeing. I want 100% concrete recent evidence the rentals will yield at least 10% net, (which is not much ogiven how much capital prices have fallen).

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Been investing abroad a few years. Always amazed people invest in places that produce just a few months rent per year