I put about another $7,000 into it (closing costs, appliances, paint, repairs, replaced the HVAC that had been stolen, etc). 

Well... if it was bitcoin he was talking about half of his investment has not been lost thanks to the delay.

One because it saves them the time of picking them up, two because they are not worried if they get stolen off the job site.

Maybe it was stolen.

Fees, interest, legal...The AC unit was stolen about 1.5 weeks ago and the house is looking abandoned.

I know if a debit card is stolen and used, the bank usually refunds the account right away.

Julia Rowling its SOP  (standard operating procedures) to not put any appliance's in these homes until the tenant moves in.. same with HVAC some times  condenser unit water heater etc etc.If you install them new and leave them for any length of time they will get stolen nearly 100% of the  time... this is why I have said many times that these types of investments just are not appropriate for anyone who does not do this for a living...

(My partner was convinced a lot of it was stolen goods)A bit like the storage facility auctions on reality TV.Then a guy who serviced vending machines rented it for the perishables.We then had a Rat problem that he took care of.I have never eaten from a Vending machine since.

These loan terms are not real... you could get your identity stolen... and you will lose any money you send someone like this..

Not the month or 2 of rent that so far have not been collected and literally is being stolen out of my pocket.