I could go a conservative route with them that could prevent or reduce the risk of that happening.  

You may just have to pay 1 year of taxes to prevent that.

If the main level is the bottom level which prevents the use of wood...I would go with an engineered hardwood that will do ok with the moisture.

@Dillon Randolph  Rookie mistake, but it can be prevented.  

If you are closing on a property with seller financing that you ultimately think you are going to resell, make sure there is not wording in your note to the original seller that would prevent you from doing this.  

Hi Im new on this and I want to attend a real estate school but i was incarcerated in 2009 would that prevent me from getting a real estate licence?

I was hoping to explore the idea up-front to prevent a future "no holds barred, destroy the bum, I don't care what it takes, buy the attorney a new pool" attitude!

I was just trying to protect my personal finances if anything would go wrong/ also to prevent high taxes if I didn't roll over money into another property by the end of the year

Our system is designed to prevent what happened in the US in 2008 and works very well to accomplish this.Once you prove yourself you can then seek investors.

In many areas though if you do not allow the EMD to be returned, it can be pretty easy for this "buyer" to cloud the title to prevent it from selling to the next buyer.