You'll want insurance that will pay you in the event of a loss.

I wouldn't allow anyone access and when the time comes, and the court allows you access I would sell whatever is inside to recoup some losses.

A renters insurance can compensate the loss to a great extent but you need to check with your tenant whether he has it or not.

I'm looking at getting a second vacation rental property that would definitely be a loss as there is little time left to recover initial costs.  

This is something I teach in my rentals class and so far, it has worked every time with the landlords that have used it......Getting a tenant to move peacefully and without causing physical damage is hard to doTenants being evicted tend to feel victimized and when they get upset they are a risk to do physical damage to the house and leave behind mountains of trash.It will take a minimum of three weeks to legally evict a tenant and can cost in excess of $500 (Texas Law).Owners tend to reason that they will keep the security deposit to offset losses but a tenant can cause thousands of dollars in damage in minutes.Let the tenant know that you have filed to evict them and give them a copy of the eviction papers.

I want to go in 'guns blazing' and even if I fail, I can accept the loss, because even if I lose I will learn (so it's not even really a loss).

The side that meets my neighbor is open to the elements, since there is no roof, or floors (see below).The unit I seek on the left also needs a complete new flat roof, second floor, first floor.When I got home, I did some research, and I have located the owner, and placed a call to him to find out what he plans to do with his half- perhaps I could buy his side…The easy answer is to just walk away, but that is not my style, and I love challenges, and I'm open to cutting my losses when necessary.many areasHere is some info on myself: I have renovated all of my previously owned homes, collectively: “100” squares of pitched roof, 1000s of square feet of oak flooring, tiling, 300+ sheets of wall board and Durock, plumbing and gas lines, so I am not exactly a newbie.

They almost missed the closing which would have cost her the loss of the property along with her earnest money.

Very stressful, loss of money, involved.

Most will ignore me, and that's fine...some will succeed, and some will get wiped out, but at least I can sleep at night knowing that I did what I could.I've bought hundreds of homes at auction, and one in a hundred results in a huge loss for one reason or another.