FIRE is equal to a income stream > expenses.  

Unless they have a substantial revenue stream separate from the traditional flip, they aren’t making any money if this example is representative.

@Brittany Wilkerson I have some videos and posts about possession, especially about taking DIY possession without a court order.

On the other hand, there are private lenders who want a long term passive income stream. 

There are basically 2 ways.One is to buy the note at a fair price and you, as the note buyer, becomes the new lender and receives the income stream (mortgage payments) from the borrower.The other way is to buy the note at a discount (for non performing notes), foreclose on the property and now you become not the lender anymore but the owner of the property.

Ill have to watch some youtube videos to see how to do all that.

Everything I read about and videos I watch talk about apartments.

The heads-up is much appreciated, will have to dive into their videos online as well, once I make the switch. 

On the flip side, this has presented some opportunities for the creative real estate investor as well.Some news story links and a snapshot of what has happened to prices in my city.https://www.cp24.com/news/video-shows-massive-fire-that-destroyed-under-construction-homes-in-burlington-1.6671785https://www.thestar.com/real-estate/toronto-area-buyers-are-walking-away-from-deposits-on-new-homes-some-losing-as-much/article_db451c58-5c4b-5269-8510-17095d5496e1.html

The Property Manager should have inventoried the items in writing or with pictures/video to protect you.