Make acquaintances with GC's, agents, inspectors, and other investors.

The previous owner was a complete slum lord so after a lot of back and forth with the building inspector I put another $4000 into renovating and and getting everything up to code.

I understand that more seasoned investors might not hire an inspector at all, especially if they already have working history w/ the wholeseller...Thanks in advance!

We had a mold inspector come out, and we haven't gotten the report yet.  

Hi @Mike Dorneman,The seller, RE agent, contractor and inspector.

We are out of state investors and are solely relying on our REA and the home inspector.

@Bo GoebelIf you have everything in line (meaning the construction budget, the contractor that's approved, the inspectors etc...) not to mention the regular loan papers,you should be able to close that 203K in 30-45 days. 

Im sure there are bad apples, but if you screen properly it can be easier on you long term.The hud inspectors are only checking to see if items are to code. 

Both the home inspector and the rehabber felt that the leak had gotten into the wall and rotted out the framing.It turns out that the foundation at that end of the house is only 1 foot deep - and that's why that wall had settled. 

Real estate license in New Jersey,  appraisal and home inspector.