So, their attorney gets back to them with the new that (1) their dream of a “contingency” fee lawsuit is a non starter (2) that the process is going to be long, drawn out, and (3) that a $15,000 retainer would be required. 

The process can take client's anywhere from one month to two years of active and consistent searching, analysis and dealmaking to acquire the right home.

If you are a cash buyer , know the market and foreclosure process then you can pick up  property for a 25% discount in a desirable location.Cheers

It is not very difficult or complicated to evaluate commercial real estate, there are plenty of good books available that can teach you how, textbooks, online courses, community college classes, even excellent youtube videos etc, and it is actually quite enjoyable in the process to learn.

I am in the process of refinancing.

This means finding reliable contractors, inspectors, and, if necessary, real estate agents who understand the flipping process.

I haven’t done my first deal yet, but through hiring a local contractor to build my personal residence I had this idea that I don’t hear people talking about.

Unless you've done substantial improvements to the building or used a large down payment when buying, it's unlikely this will work.Perhaps your best move is to find a new primary residence that is 2-4 units and repeat the process.

Could you explain that process?

I am interested in talking to someone about the process of funding via DSCR the acquisition of a property currently being run as a PadSplit.