Can a Florida residence become part of a lawsuit? I assume so, but I am not an attorney.
Seems like you would be opening yourself up to the potential for extra risk to your assets.
There is a lot to think about with this. It goes beyond the likelihood of risk to the friendship.
I would not get caught up in the perceived urgency to buy a house in TV. Renting can help you to work through what you really want to do.
(And, I sure hope we do not turn into some enormous, sprawling timeshare from hell. Tee-time, anyone?)
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