Then you file a writ of recovery with the sheriff and within 3-10 days they are removed. 

I entered college studying athletic training and switched from that after my first full year because I couldn't see myself pursuing that industry.

Hal:Planning for capital gains and Capital Cost Allowance (+ eventual recovery) needs to be part of your up-front planning.  

Real estate can crash much faster and generally has a longer recovery time than stocks. 

You'll get burned once and then realize why everyone on these forums always says to put everything in a written contract.Always remember that when stuff goes wrong, everyone, EVERYONE, even you and me becomes self-serving and looks out for their best interest first.Pro athletes and musicians provide plenty of examples of how relationships change with family members when money enters the equation haha.

So far so good in terms of  addressing disaster recovery.However the flooring now looks patchy and it doesn't look the same  as it was before the incident.The water damage restoration company told me 'Guaranteed Rebuilding Cost' addresses this patchy scenario to payout and redo the entire flooring and the insurance company is supposed to pay me to redo the entire flooring but the insurance company never came back to me after the initial disaster recovery.

I have seen cheap flips and there is no recovery from that mistake - now you have a property that is still expensive (10k or 20k don't make a diffrence), but nobody wants to buy it.  

Is it normal then for a 2nd to bid up to the FMV in order to maximize their recovery or do they typically hesitate throwing additional money after a property.  

What checklist do you use when evaluating the pool and determining the risk involved with the recovery?

Hey Andrew,While you can always restructure, the ideal structure is one where you have layers of protection to make a lawsuit very unattractive in terms of recovery for an attorney to file against you.