URGENT: First Time Flip - DISASTER - pipe burst water damage. Please offer advice.

[Andrew Pandolfino]

I am new to BP and real estate. A friend of mine who has not yet joined BP and is also new just completed construction on his first flip a couple of weeks ago. Last night he checked on the house and walked into a disaster...

With the cold weather conditions we have had in NY, a faulty coil in the furnace, a pipe burst in the attic. By the time he checked on the house the water had already damaged every level of the house and reached the basement with a few inches of water.

He wants to take action asap but not sure if he needs to bring insurance in before starting.

Has anyone been through a similar scenario or have knowledge on how to handle this situation. If you can, please help.  

[Neil Aggarwal]

If the water is still leaking, stop it immediately.  Don't wait for the insurance adjuster to come out to stop further damage to the property.