Buyers of condo-hotel hybrids who lost big are now suing

Condo-hotels, or condotels as some call them, aren't regulated by the Division of Florida Land Sales, Condominiums & Mobile Homes even though the state leads the nation in the number of condo-hotel units.

"It's a mess," said Raphan, an assistant ombudsman for the state agency.

Raphan's view mirrors that of many who watched the novel craze begin and crash almost as quickly.