Most players in the today's real estate market are not adequately prepared or qualified to handle the complex realities of the current cycle. Many projects that were formerly considered "no-brainers" today find themselves in operational and financial failure. Furthermore, the vast majority of these properties are plagued with broken or fractional ownership structures that lead to potential successor developer liabilities and defaulted homeowner associations that result in unexpected operational expenses. Most "vulture funds" looking to capitalize on these opportunities do not have the operational tools and experience required to handle these complexities. Indeed, the days of acquiring deals and selling them to the next buyer are gone.