Rule #1, never add your social security number to anything you purchase or take over on SXM. They do not need it, makes it easier to walk. If you have to finance it, then forget it and walk away. If you can not cut the check and not worry about that money, don't do it.

Rule #2, purchase knowing at some point you are likely to walk and get nothing for what you have acquired.

Rule #3, if you purchase do so at a place you plan on staying. If you are buying to exchange or rent out it is very unlikely that you will get what you are hoping for. Not a wise choice except in very few cases.

Rule #4, research the place you are considering and the history of the ownership / management. Know the Maintenance Fee history and how much they are compared to other places. Places like Royal Islander and La Vista have been very stable. Places like Flamingo and Royal Palm have seen their AMF's shoot way up.

Rule #5, buy resale and not direct from a resort. Ebay, owners forums, etc.

I have broken some of those rules and do it eyes wide open, but not the SS#. If you want a specific place a specific week you may have to pony up a bit more money but really think about if if you are paying over $500.

If you do it right, it can be a great deal and you will get your enjoyment and money out of it. If you don't, you likely will end up bitter. Times have changed.

I own at Royal Islander, La Vista, Atrium, Towers and was a Caravanserai owner. All except one purchased off of Ebay, and that was to extend my stay in the same unit at La Vista.

Zero regrets.

Cheers,
Todd