If your deal is good enough, you pull out everything you had in the deal as well as some to pocket.

Especially about validating information. 

Let's of NYC investors look at other cities in NY, Rochester, Buffalo, etc... they can drive to them to see them, and they know the state well enough to feel comfortable.Most of the rust belt cities in NY offer cash flow as well. 

As also mentioned, there is the local jurisdiction who is overseeing the permits and inspecting the work as well.

@Jonathan Blanco, I'm and investor and a licensed mortgage broker so I've been on both sides of this conversation.I would look for a lender that (1) listens to you and understands your strategy and needs (hint: it's not always money), (2) has experience working with clients executing your strategy and brings more to the table than just cash - be it advice, relationships, deal-team partners, etc., (3) gives you viable options and explains the pros and cons of each option and (4) you enjoy interacting with - this should be a relationship, not a transaction.Once you find a few lenders like this (and you should have relationships with more than one), then you can start comparing rates and fees.

The information contained in this post is not to be relied upon.

However, the MLS in San Diego as well as the appraisers I've worked with do.You'll definitely want to check to see how the topic is addressed in the particular locale the property is in. 

This is not a team sport.

You have not documented these incidents, nor have YOU informed your tenant this behavior is unacceptable.  

Well then could we have a example of defeasance, maybe such as a Bob and Ted story?