We turned the water off on March 29th to start renovations, but we have continued to accumulate massive bills since then.

I have a construction background, mostly commercial and retail construction, but i am seeing that i will probably need to start with residential because of my low funds.  

Online retail w/ drop shipping?  

hey community, a friend's father had a business that failed massively in the last 3 months. he just stopped paying the mortgage on his house. some of the business partners have liens against the property. my understanding is that if this were to just follow its natural course, the bank will reclaim the property, and it will go to REO. as a side note, the dad's strategy was to spend his remaining emergency fund on a trailer and to move out into the country, basically so that when whoever comes after him for money, he can show he has nothing left in any of his accounts. if it were just a matter of the mortgage payments, i would be very tempted to start paying them and pick up the house subject-to. the property is in one of the most desirable neighborhoods in all of asheville, and it's a nice home. however,  the liens present factors / challenges i just don't understand. i don't plan on doing anything with this necessarily, but with this particular bit of inside knowledge about the property, it seemed worth sharing to see what experienced investors here thought of it. 

I rehab the home myself and sell retail. 

There needs to be a massive action plan!

Reason i asked is because most phone calls i have received is that everyone seems to want to sell it retail value.

The fixer uppers are selling to retail buyers who tend to be much more picky and can take a lot longer to sell. 

But whatever, a huge majority on this site don't seem to care about that and will just suggest buying a massive umbrella policy. 

@Joe Villeneuveanalogy is succinct with how opportunities and markets work.What hasn't been said though is that for those investors that are finding success in the Bay Area they're more than likely buying deals that are not priced at retail.