Your local knowledge and resources should provide an opportunity to disposition said asset that reduces the expenses and time to recover or collect.Understand also, that banks are not the only holders of loans.

If so, will it recover by spring?

I measures how much cash you recover in your first year ONLY.

It turns out everything is fine, everyone is recovering nicely, and all it cost was my time.

(B) If the landlord makes an entry in violation of division (A)(8) of this section, makes a lawful entry in an unreasonable manner, or makes repeated demands for entry otherwise lawful that have the effect of harassing the tenant, the tenant may recover actual damages resulting from the entry or demands, obtain injunctive relief to prevent the recurrence of the conduct, and obtain a judgment for reasonable attorney's fees, or may terminate the rental agreement.

I use the same money over and over since I recover it in each refi.  

It would be expensive to recover my $10k.

I got the fee back, and now want to recover the cost of repairing this floor. 

Assuming you vetted this tenant when he moved in and all was well then AND you would like to keep him:is this temporary and will soon recover?

If this one works out well, offer to up his payout in the second deal ... and then again in the third, etc.If you take the second lien position and the property hits a pothole, the difficult way for you to recover anything is to buyout the first lienholder so that you are the only creditor.