I’m happy to be in a forum with fellow investors and people wanting to master real estate.  I enjoy hearing about peoples’ personal wins and innovative, creative strategies.  I hope to be able to contribute to other p...

Paulette, it is good to call out these bad contractors and unfortunately you are caught in a bad situation on what to do, start by a small threat that you will contact the BBB and report a claim if he does not show some progress, or if you know an attorney, maybe a simple letter from one may get him worried and he may start showing up.

Will they finance 100% of the purchase and renovation or will they want skin in the game (you putting money in).Most do not do 100% funding so beore going down more rabbit holes, make sure you have the $ aspect situated first.

You might consider other strategies, like taking a home equity loan or refinancing to fund repairs, but consulting with a tax professional or CPA would be the best next step for your specific situation. 

Evaluate the situation to see if you could have done anything differently to mitigate the loss and implement changes to your processes, but know that this happens and hoepfully just not too close together. 

talk to a competent financial adviser.  

@Rosmery ThenMy partner and I are in the same situation, just he has 20 years of construction and development experience.

An owner can challenge the number of hours their PMC bills them for a project though.2) Contracting every job out, but the bids aren't shared and owner just gets a bill on PMC letterhead covering labor & materials, with little detail.This is a pretty difficult situation to understand the charges, so you can monitor them. - The smaller the job, the easier to understand using the material & labor steps above.- Larger jobs may require requests for more detail, so the above steps can be applied.Be sure to check your management contract for what you agreed to.

I could be wrong or out of line, but I feel like this is a field where you really need some good expertise/experience to know how to address the variety of crazy situations that will come up.

Lots of us are happy to offer suggestions but I think we need to understand your situation better.All the best!