the challenges with flips  is that there are so many angles to try and cover / consider that it is somewhat like spokes on a wheel… even if you just take it system by system… roof, plumbing, AC, foundation, subfloors, electrical, appliances, septic, materials expenses, holding costs, taxes, etc.  

He inspected it as though it was on permit, but did not mandate it being on the permit (example drywall, new electrical in places other than new bathroom, etc).   

He has now asked me to pay the contractors for the first stage, about 24 lots, for dirtwork, sewage, roads, curbs, electric in exchange for some of the lots.

The major factors like the roof, furnace, plumbing, electrical upgrades, and foundation repairs are all examples of costly expenses you'll want to inspect before closing the deal.

@Anthony Vander Meer Does the rent include electricity, heat or hot water?

I don't think that will be that fast, because we need to solve the energy problem first.

Any suggestions - especially in regards to high value bills such as electricity during summer when air conditioning is on-  are highly appreciated. 

Some common items to note: roof, electrical and plumbing, window updates.

Thanks for responding.I’m comfortable with residential electrical, plumbing and framing.

Making more income requires a significant amount of time, stress, and energy which would come at the expense of my family.I've also gotten to the point where it's harder to delay gratification--it's not a skill my wife is great at (so delaying gratification frequently means I go without, and she doesn't) and spending $2000 to go see nephews and nieces is much more important than having an extra 5 shares of google or MSFT.