I don't know however how long would I wait for possession Simply did not read enough on the subject.

Obtaining Unpaid Rent Through an Eviction LawsuitIn the lawsuit, the landlord typically asks for possession of the rental (an order from the judge, telling the tenant to move), plus a judgment for unpaid rent.

Let's say 500K or more in their possession at one time. 

none seem to pop into my head @Chris Clark, but other than FEMA and NFIP, are 2 key players that can make or not make you want to invest in the post-flood "redstick," my realtors work with us and we try not to buy in flood zone areas, but our newest project will require a flood certificate, if we have to elevate then no deal, but we are expecting to rehab and standard flood insurance, this is the new norm after the devastation, we buy low and sell for profit, just hope home-owners that want to invest in these areas will go the additional mile and get contents/possession coverage as well, always keep Louisiana strong, keep posting but most of all keep sharing

If it is a recourse loan, whether it is within a LLC or not, then you will personally sign for the loan, meaning that if things go pear shaped the bank can and probably will come after your personal assets to make themselves whole, but the advantage will be better rates and terms, lower down payment, and easier to get ... on the other hand, there are non-recourse loans, which have no personal backing by you, is off the property alone, and if things go south the bank can't come after your personal possessions.

If the tenant does not respond to the complaint within the given deadline, you then proceed to move the eviction along by obtaining first a default against the tenant and then getting the Writ of Possession (this is the document that the court enters that you then provide to the sheriff so they can turn possession of the property over to you).

It stands for Real Estate Owned basically when the bank takes possession of a property they foreclosed on.

In mine, it takes years and a lot of hoops to jump through between buying the tax lien and getting possession.

No Landlord with any experience should be using a 7 day outside of Gilbert's man made bubble.  30 day Notice - you just want to recover possession, the judges CANNOT refuse you and will give the tenants 10 days to vacate. 

Just last week the tenant got arrested in front of the house (allegedly on narcotic & gun possession) & now my client really wants them out.