Since Federal Pacific is bankrupt, the insurance carrier would be on the hook for the total loss. 

Could you imagine the next elected president bankrupting the country and all the banks calling all notes!

To be fair, markets that appreciate could also experience similar issues such as the tech industry moving out of SF, Universities building a ton of new dorms or reducing student enrollment in Boston, or the entire developed world going bankrupt and no longer able to purchase homes in Hawaii.

I'm in this full time now and really trying to see if I can grow a full flipping business here.The seller was technically a trustee fora bankrupt individual, so they wouldn't have accepted the offer in time.

And plan for the refinance to drag out a bit as the conversion must be thoroughly documented twenty ways from Sunday.Worst case: is this going to bankrupt you if after jumping through all the hoops and red tape, the answer is "no"? 

But all I keep thinking about is Dave's story of how he went bankrupt when his bank was sold to another, resulting in his having to pay back millions of dollars (bank notes) within one year! 

I wish somebody who knows this market could chime in.It's def a high risk play - but let's be honest, is the new brunswick province likely to go bankrupt?

sell it and go bankrupt or Keep it and rent it out. 

(Happened to a PM near us, he went bankrupt over the ensuing case). 4) repairing gas lines now is expensive - no one wants to repair a line - they want to replace all the lines in the house if there is a single problem.Another thing to consider is that with broken screens - you are now in violation on tenancy laws in Florida, think $1500 fine if anyone reports you.* Replace missing cover on AC unit disconnect on exterior.

.- I've analyzed a few options, sub-metering is a no-go because Massachusetts laws are flawed and don't allow it until a new tenant moves in, by which time I'll probably be bankrupt (because eviction can take up to 2 years and is very tenant-friendly, at the same time this tenant can keep wasting $2k+ worth of water every month).