How many times can a floor be resanded/finished? I have heard 2 times. I have already gone thru 1 complete redo on a brand new floor and will probably require another. Should I have the installer remove and start over?

depends on how agressivly it was sanded the first time, and if i remember right your floor had somee water damage wich normally requires heavy sanding to flatten back out. I have seen solid floors sanded 5 times before the tops of the groves start to break off so that question is a good one for the floor finisher youu pick.

you should easily be able to get three sands unless someone went crazy with the machine previously. if you have water damage consider cutting out and reweaving new wood. it would be well worth any up charge