I recommend spending a little extra money and pay to have trade specific people inspect the property too, not just an inspector.

gut renovations redid all new windows, insulation, hvac, bathrooms, kitchen, hardwood floors What was the outcome?

What was the outcome?

What was the outcome?

new roof and updated interior of one unit What was the outcome?

new roof and updated interior of one unit What was the outcome?

As Michael said, it depends on if you got to the level of a trade or business when it comes to lending.Some important things that will determine this are1) The amount of loans you are originating on an annual basis2) What your intent is when forming this partnership3) The value of the loans you are originating compared4) etcBest of luck

I would encourage you to get in to the trades, could probably start this now or very soon.

For your first project it is nice to be able to see it, talk with all the people involved, know the area, know the schools, know the employers, know the neighborhood, meet your trades, etc. 

Washington offered to trade his surveying fees for those parcels he considered ripe for development, and utilized any money he earned to do the same.