We bid farewell to our beloved townhouse on April 26th, 2023, when it was sold for $129,000, as we embarked on a new chapter of our life - now in South  West Florida.

A lot of them in the Construction business....when I was doing bids/proposals for high-end jobs I saw these folks a lot.

More likely you will pay some legal fees and then just get the house back when nobody bids on it.

Then have a few pool companies give bids, you both agree on the final bid and if the cost from the pool company comes in under the amount, the seller gets their escrowed funds back less the cost of the repairs, if not the funds are used to complete the repairs when the time comes. 

I will share my "Most Expensive Lesson" in the comments.To kick things off, here are ten examples of expensive lessons or mistakes in real estate investing:Underestimated Repairs: The classic pitfall where the cost of repairs and renovations far exceeds initial estimates, impacting the overall budget and profitability.Tax Liens: Failing to account for or being unaware of existing tax liens on a property can result in unexpected financial burdens.Contractor Liens: Not settling payments or disputes with contractors can lead to liens against your property, complicating sales or refinancing.HOA Fines: Overlooking or violating Homeowners Association (HOA) rules can lead to significant fines and headaches.Bad Loan Products: Opting for loan products without fully understanding their terms can lead to unfavorable financial conditions, such as higher interest rates or unfavorable repayment terms.Ignoring Zoning Laws: Investing in a property without a clear understanding of local zoning laws may restrict its use, affecting your investment strategy.Overpaying for a Property: Lack of research or getting caught in a bidding war can result in paying much more than the property's worth.Neglecting Due Diligence: Skipping thorough inspections and background checks can uncover unpleasant surprises after the purchase is finalized.Poor Tenant Screening: Failing to properly screen tenants can lead to unpaid rent, property damage, and costly evictions.Underestimating Market Risk: Not considering market fluctuations can lead to investments that don't pay off as expected, especially in volatile or declining markets.We've all been there in one way or another, facing setbacks that seemed daunting at the time.

How do you guys actually go about getting bids from contractors for rehabs?

Either way it'll be a lot of work so get a few bids.

Properties sold to Fundamental Partners for about 12% below foreclosure value.I wonder if 12% will be enough to weather the storm.I believe these are Fed Low Income Rent controlled, I wonder how much longer that will last (with no ability to raise the rents).There looks to be quite a bit of Physical Damage to some of the brick walls, and the Trash from the pics looks to be piling up to the clouds (Citation Level).I wonder what the occupancy level is, as there seems to be lot of mailbox doors swinging in the wind.Were these guys hand picked by the forecloser to take this over, or did it go to open bid with another lender underwriting a new loan?

These chickens are coming home to roost.If I could start being a bid on these notes, man I would make a fortune.

If this was me, I would be at the property, getting in touch with local Facebook groups and generating bids to get handymen/local contractors taking up urgent jobs that are preventing units from being rented (even at a lower premium) that are ready to help nurse the deal.