Locations hit by natural disasters may take many years or never recover.

The devastated community may take years to recover, or it may never fully recover.

Proper Demand form is sent to all tenants to start the legal eviction process, so we force them to address their balance:dc 100a: Nonpayment of Rent (most commonly used – also known as 7 Day Notice, if tenant pays they stay)dc 100c: Notice to Quit to Recover Possession of Property (also known as 30 Day Notice, use if you want a paying tenant gone)Forms can be found at: https://www.courts.michigan.gov/SCAO-forms/LTLC-forms/Day 13-16:COURT DATE FILING: While waiting the required 7 days, we try to communicate with tenant to determine if they intend to pay and when.

Note that most independent adjusters bill based on a percentage of the claim recovered. 

What would be the best way to approach this situation to recover the money owed? 

If Tenant Defaults under this Lease, Landlord may exercise all rights and remedies available under applicable law, including the right to: (i) terminate this Lease; (ii) regain possession of the Property through an eviction or similar process; (iii) recover from Tenant all unpaid Rent, including unpaid Monthly Rent, Additional Rent, Late Fees and, if applicable, holdover Rent for the period prior to Tenant’s delivery of possession of the Property to Landlord; (iv) recover all Rent payable under this Lease for the period from the date of termination for Tenant Default through the stated Expiration Date, less the amount Landlord is able to collect from any replacement tenants for that period; and (v) recover allreasonable costs and expenses incurred by Landlord in repairing any damage to the Property, caused by the improper useby any Occupant or any guests of an Occupant, less any amounts obtained from the Security Deposit.

I have been in real estate since mid 90’s so I am definitely a location location location personWhy - because it’s not as susceptible to as significant a price drop during recessions and they typically recover faster and have greater appreciation which is the true wealth builder in real estate.

So, now almost two years later, I've had to close my flipping business because I can not seem to recover from this loss. 

Of course, they've long since recovered, but it took 14-15 years.  

Consequently, I find myself in a predicament where I cannot recover the funds already spent to proceed with the project.