Sorry to hear about your misfortune To answer your question It's hard to answer with out more information but If you invested with him and if he was a corporation And he folded the corp then you have the wright to go after the share holders as well if his wife is a share hold Which is common file against if she tries to transfer the property right after you file the transfer can be reversed Peoples think they can hide behind a corporation But you can have personal recourse on the share holders but you will have to pay the lawyers fees and try to get them back at judgment

I should add that the "cost" of hard money lenders is made up for 10 fold in speed, service, vetting of the property, etc.  

My goals of the LLC partnership are three-fold: 1. be official/establish credibility 2. clearly define ownership between the three owners of the property.  3. minimize self-employment and overall taxesIt will probably only be the one property with this group of partners, but possibly a second if this one goes well. 

Now, how I choose an area (long story, short) is three fold: Good Schools, Medium Income above 40k and a population of at least 40K per city. 

When you invest in others, the rewards will be returned 10 fold. 

All I did was install the pink fan fold insulation and nailed up the siding with 2 inch roofing nails .

That helped me 10 fold stay on top of all the individuals and leads that I was coming across.

That's NOT to say I wouldn't leverage it again into other income PRODUCING properties, but I will remind both you and Bob, until you do that, your $1.2M asset is not generating any folding dollars that you can take to your travel agent to spend.

After I master flipping I plan to add passive income to the fold.

Replaced some ugly broken glass doors in a bedroom with new folding doors, paint is done, replaced broken windows, hardware installed on the doors and things are very close.What's left now is only the carpet, replacing one bathroom vanity and....two more unexpected things!