Has a collapsed floor due to subpar construction from the developer, which is why they abandoned the property to begin with.

It can be due to too much total time elapsed, too much time spent w/ a previous offer where the lender wouldn't meet the buyer's price, and negotiations collapsed and the house went BOM, whatever. 

  :)I feel that unless there was a collapse that I could get backing if I needed it. 

The changes in underwriting criteria has made it much more difficult to buy a house and the people who buy a house to live in are lower in number, but can actually afford the homes that they buy.While it might be true that we are near a top and might have a correction on the horizon, it's unrealistic to say the correction will resemble anything close to a collapse.  

This happened in 2008 during the brink of collapse.

Everything changed after the housing collapse though; as all the speculators were wiped out, and the new price points suddenly made a lot of sense for flippers and their new buyers.  

@Daniel 50k in remediation expenses on a deal worth 1.4 million seems like a pretty minute hiccup on that deal I can't imagine the profit margin on that deal would be slim enough to collapse a deal over 50k... but I understand what your saying for sure and is a very valuable point. 

Is it safe to purchase at this time, or do you all see another bubble leading into a collapse? 

If the roof collapses (as it did on a related property) it would appear I'm totally on my own here.

Loc has good reason to look at balloons as a future disaster, most all are very poorly underwritten, usually just agreed to, without any due diligence and yes, those collapse.