That sucks.In general, I would think converting shares to a promissory note would not be a taxable event, but if the note never gets paid back, the note default would certainly be a taxable loss.On the other hand, you have probably taken depreciation.  

Attending industry events, joining local real estate groups, and participating in online forums can provide valuable insights and opportunities.

I'm guessing BK or receivership is on the horizon... and despite what has been suggested above, those events would prevent a sale. 

The ultimate goal would be to rent it out for short term stays or possibly as an event venue (in addition to being on farmland, it's surrounded by pine forest and waterfront).

Insurance is for catastrophes not maintenance - if there isn't a "sudden and accidental event" you can point to as the cause for needing the repair then insurance does not applyCan we assume you have all galvanized pipes in the house?

Are they actually as time consuming as people say "4am toilet broken events"?

Hi - I just signed up to BP and also just attended a 3 day event for Tax liens Wealth Builders held July 29-31st in Dallas, TX.

But, ultimately it basically boils down to retaining cash/liquidity in the event that you desire to make additional investments (or, as it seems your concerns may be hinting to, in case you need it for something else).

I just attended John Jackson's two day event.

My concern with these "top lists" is that the data is based on past events, which basically means old news and you may have missed the boat.With that said, I would actually focus on your own backyard and house hack if you can.