- They tell me their life story, about how their cousin's brother owns the company or something.- "Thank you for sharing.

This is not to condemn owners, life happens, but choices were made that prohibit continued ownership.

As life gets messy, perfect credit is becoming more rare, so cherry picking applicants that are demonstrating positive changes can work out  for both of you.

That is what life is all about. 

@Luke PaulingWelcome to the community, of BiggerPockets and congratulations, for starting early in life!

I like to determine how old the major capital improvements are and how much life they have left.

For the life of the investment, you would have 20k/13k or 154%. 

The extra interest you would be paying is $4972 over the life of the loan (again, assuming min. payments on a 15yr note).

I was born in Edmonton and have spent most of my life state side and have only invested in U.S. property.

They may then be able to cut you a second check for any recoverable depreciation that you can still collect.Also, they are not depreciating the repairs, the depreciation is based off of the usable life that was left in the damaged materials at the time of the loss.