Even a judgement won't hurt.

The woman sues and wins a judgement of $2M.

Our judges have too much power, and often times too much stupidity:Colorado Teens Fined for Giving Cookies to Neighbor"A Colorado judge ordered two teen-age girls to pay about $900 for the distress a neighbor said they caused by giving her home-made cookies adorned with paper hearts" Read moreThis may be the most rediculous court judgement ever!

Tonight after I respond to a dozen BP posts, I will do my own title search on the property and thoroughly read the foreclosure judgement.

If one were ever to read the bottom of a "warrant of restitution" (eviction), specific instruction signed by a judge, delivered to the sheriff exist which says something to the effect of  "unless tenant pays judgement amount of x plus court costs of y to landlord, eviction takes place"....AKA anything less than x + y does not cancel an eviction. could a tenant say they reached an agreement?

May or may not be worth pursing them for a judgement but get the place cleaned up and rented quickly to mitigate your loss.

I do think that every individual is different so I think you and your wife are the only two who can make the decision and ultimate judgement on whether the 14 unit is a good place to start.  

Judgement was granted for possession of property and posted on the door as per state law.

Don't let anyone use a 'personal' relationship to override your better judgement.

.- Learning to analyze/evaluate new construction deals- Knowing the order in which to do things (it's not always straightforward and requires some judgement calls and risk management)- Schedules are much more complicated- Knowing your costs (you're probably closer to $75-150/sf, not $27 for new construction)- Dealing with potentially complicated inspection issues (structural bracing, for example)- etc...