Then I need to build my team, inspectors, sub contractors and either find a property management company or try to self manage them and etc.

Essentially, you have to spend your own money and complete work on the property prior to reimbursing yourself out of the escrowed rehab budget.The draw process typically takes 5-7 days from initial request, to scheduling an inspection, and finally for the lender to wire those funds to you after your work is confirmed by the inspector.

Here's what I've learned:Inspections Are Non-Negotiable: Always get a full inspection, but don’t stop there.Plumbing & Sewer: Have the plumbing and sewer systems checked specifically, as these are common problem areas in older homes.Electrical System: If the inspector flags any electrical concerns, bring in an electrician during the inspection phase for a detailed evaluation.

The inspectors can be nitpicky.

It went through a full inspection and there were minor repairs ($1500) - in retrospect, the inspector missed some things. 

I just talked to my realtor and he informed me that an inspector will look through the home as a whole and not license specific bedrooms.

In order of priority, I would put title company after GC, lender, insurance broker, real estate agent(s), inspectors, and several trades.

Second, I look at listing photos and Google Earth Street View to assess the condition further.Third, I determine a rehab scope and run it by my agent.I have my agent, inspector, and contractor walk the property together.

Ask a home inspector for their mold guy if you don't have one already.If these are otherwise high maintenance tenants: offer them the opportunity to break the lease and move out with no penalty (besides damages, of course).

I analyzed over 20 markets and picked three so there are a lots of markets to choose from.Start networking on bigger pockets as well as attend local meetups and REIs to find referrals for GC, PM, broker, TKP, lender, property inspector etc.