Work with your attorney for what is needed to insure all subcontractors get paid by the General Contractor.Make sure the insurance covers Construction period and also materials.Talk with your Commerical insurance agent and they should address the above questions with you.If this is an older facility make sure your engineering firm has covered Fire Suppression systems and any Storm pond or drainage systems. 

Start by leveraging what you already have—consider tapping into equity through a HELOC, house hacking again with an FHA loan, or increasing cash flow by converting a unit to a short-term rental.

That was short lived!

No one has ever asked me. 3) Depends on if you want longterm or short term residents. 5) We used Redstar https://www.redstarbackgrounds.com/ they give you accept/decline recommendations.

If you are willing to do this over a long period of time, this can be a great strategy, especially in a low-inventory market.

Short term it is difficult to make the numbers work, the cost of new construction and the time it takes to zone-plan-build are usually the main reasons why private investors stay clear.

I'd consider renting for a period of time and identify a particular area you'd like to eventually buy.

You will want to consult with a lawyer.In regards to your last two questions here's some background on what makes a contract valid and enforceable:Offer: A promise to do or not do something within a certain time period Acceptance: A clear and direct statement that all terms and responsibilities are accepted Consideration: A legal and adequate inducement given in exchange for the promise Capacity: The parties to the contract must have the legal capacity and competency to contract Awareness: A party must be aware of the contract Legality: The contract must be legal in the jurisdiction it will be operating in***Not legal advice*** Steps I would take: -Review contract in detail to understand each counterparties responsibilities (if you are not aware)- Email a copy of the lease to each of the tenants listed on the lease and reiterate lease expectations for termination notice, rent payment etc. - If the lease was signed via Docusign (other esign may have same ability) - you can go to the envelope, go to history and view the IP addresses for each action taken.

What I'm wondering is: is there a way to get the cash invested into this rehab back out of the property in a relatively short timeline, as if it were a BRRRR?

All good, he got the job and started on May, 10, 2018.To make a long story short.