That can be helpful as a sort of emergency fund.  

@Sam Schlosser Get the attorney to sort this out.

Sort of a blend between real estate agent and escrow officer.

I'd say that in your scope of work to make sure timelines are a part of it as well, and that you make it a goal of yours to never have the house "empty", meaning there's not a day that a worker of some sort isn't scheduled to be in there.  

I know people all over the city use illegal units for all sorts of things, but my goal is to maximize profits while ensuring I'm doing things legally. 

I know people all over the city use illegal units for all sorts of things, but my goal is to maximize profits while ensuring I'm doing things legally and protecting myself from liability.

@Corbin Hibler my last sewer line replacement was $5,000.Go out in the street and see if there has been any road repair work done like a patch of some sort.

This means 99.9% of the people on distressed lists, will say "no" to you.Thus, 99.9% of people in some sort of distress will NOT BE MOTIVATED.

If I rent it, it won't cash flow more than 2%, which is sort of ok as my goals is creating a portfolio of additional income for retirement (12 years from now)  If I sell it I will likley lose a little money ($5-$10k) I Used a VA loan to purchase zero down and will be living in it for 24 months while I do the rehab.purchase price $330K, rehab $15k, Estimated ARV is $370k.  

Quote from @Robin Simon: Its definitely dependent on a lot of variables, personal situation/risk tolerance, etc.But high-level, I would say that there can certainly be a balance - sometimes people forget that when using hard money or any sort of financing, for some reason you need to "MAX out leverage" - i.e. do a 100% financing for a flip or a max cash-out refinance etc..However, most hard money lenders would be totally willing to do a lower leverage loan (and would probably prefer it) such as 50% or 60% LTC instead of the usual max amount.