Due to high demand, many investors in Austin are finding they need to adjust their approach a bit to make the numbers work.Rehab Budget: Ensure that bids are received from multiple contractors and that adequate reserves are made for cost overruns.

I was thinking ​some type of homeowners policy, I didn't think about builders risk.You're very welcome, Stuart made an excellent point about having contractors add you as additional insured.

Here’s my question; did you inform the contractor before he began work of the $9,000 bid from the other contractor, either in writing or verbally?  

Partnering with a strong team—such as a knowledgeable realtor, property manager, and reliable contractors—will also be key to your success.

As an investor myself, I need to be creative in sourcing deals so I connect with realtors and contractors who may have access to deals that aren't publicly listed.

I'm really interested in hearing directly from professionals in the field: What are main challenges contractors and developers are dealing with on daily basis while building homes?

It's unreasonable to expect the PM to drive 90 minutes to look at every job before sending a contractor.

I am no contractor by any means. 31 years old.

I have a contractor husband, too!

Here’s the quick-and-dirty lowdown to get you started:1️⃣ Where to Look:LoopNet & Crexi: Good for commercial deals, though the best ones go fast.MLS (Multiple Listing Service): Access through a realtor for hidden gems.Auction Sites: Think Auction.com or HUD homes for distressed properties.Direct Mail Campaigns: Target landlords with older properties (especially those with code violations).2️⃣ Systems for Finding Deals (Step-by-Step):Set Your Criteria: Market, budget, unit count, rehab level.Build a Deal Funnel: Use LoopNet, Crexi, wholesalers, auctions, and brokers.Analyze Quickly: Use a property calculator to see if it cash flows.Direct Outreach: Contact sellers or property managers directly.Get Your Network Tight: Property managers, realtors, contractors—they’ll drop the best leads.3️⃣ What Makes a Good Deal:Cash Flow Positive from Day 1.Below Market Value (usually needs rehab).Upside Potential: Think rent increases, better management, or refinancing options.4️⃣ How to Become the Better/Best:Study the Market Like a Hawk.