No question it's overbuilt nationwide, even though I personally love wine and visiting wineries.

Hell, you can go to a nice steak house and buy yourself a dinner, then get home and realize you could have cooked it for yourself and saved money.

Regular Inspections: Conduct frequent site visits to monitor progress and ensure quality standards are met.

A couple of weeks ago, I came across an awesome off-market deal on a hundred-year-old house a few weeks ago and thought all I had to do was renovate it and I would have myself a nice little home to live in long term.

Nice to meet you finally after years of listening to the podcasts and YouTube videos.

I don't live in Richmond, but I'm very familiar and visit quite often.

Not sure the final outcome, but I'm guessing that is a case where you think things are risk free, but I expect the purchaser was out significant legal fees that were not reimbursed and ended up not getting the property.I've always thought about this in the rare instance that a super nice and super valuable property goes to sale with a mortgage on it. 

No one will ever thank their landlord for doing them a favor- at some point, they'll have to pay market rents and you'll be the evil slumlord when that day comes, no matter how nice you've been up until that point. 

Quote from @Dan Sundberg: Nice project!

It also has a nice loft with ceiling that's high enough that you don't have to hunch over to walk around.