When to get rehab bids

[Ian Kisbert]

Hoping to start my first BRRRR and had a question about the timing of getting bids for the rehab and really the process in general. Once I have run numbers on a deal and have put it under contract, I plan to have a home inspector take a look at the house to add to any items that I may need to add to the rehab scope of work. Is it also common to have contractors bid out the work while under contract, or even at the same time the home inspector is there, in hopes that as soon as you close, numbers are set and everyone can start work day one? Is it also common to share the inspection reports with the contractors to have them make any recommendations off those findings and adjust accordingly? Once you have your inspection report and bids, if things are much farther off than anticipated or big unknowns come up, would it still be ok to back out of the deal?