I suspect the larger ones will survive and the little guy may just get out. 

The key is to have the cash reserves to actually survives those lessons without losing your properties, your credit score, etc.#4 - A budget.

I found BP via Youtube starting with Peter Harris's videos and following suggestions.  

Use that cash to survive while you find another job, don't sabotage your 401(k), and rebuild once things stabilize for you.

@Don Harris if your buyer will be living there, then they should buy a homeowners policy. 

I'm asking for any experience and suggestions from any BP  members who have knowledge of a situation like this and what can I do to adjust my REI business model to deal with this.I didn't have flood insurance and hoping I get the FEMA grant that has been approved for the area.This is a very difficult time and thousands of people like me are doing everything we can to survive and come out of this in one piece. 

I.e. 5x income needed to survive?

Unless you can survive such an event, it is probably best to wait a bit and build up some more capital and consider taking a plunge when you get closer to $50k or more.  

The first 5 years in business about 80% of those agents that survive the first year will be gone.I was at the bank today and the teller said everyone I know coming in is saying they are getting into real estate.

Originally posted by @Harry Metzinger:@Greg H. as a follow up question, have you had any experience or success w/ getting water turned on to a property where HUD's initial stance was water may not be turned on?