Also your permitting process, type or land, grade of land, if underpinning is required will all play a factor into your cost. 

Also the strategy you are implementing plays a huge part with how to proceed. 

Play dumb, ask questions, and try to gain as much info as possible before choosing a contractor. 

So let's play this scenario as if you are actually legitimately selling your property, and you're selling it to an entity that is separate from you for tax purposes.

•Mix of Strategies – While it’s known for cash flow, Detroit also has neighborhoods where long-term appreciation is playing out.It’s not a perfect market (no market is), but it definitely deserves a look if you’re open to expanding your list.

Having it solid in a spreadsheet instead of in your head or on notebook paper and playing with the numbers for the repair budget isn't wrong.

If the contract was sketchy at 3 pages I wouldn't have faith that they will play fair. 

Not sure what the question is here.What role are you playing in this scenario? 

I know I'm getting the tax benefits of depreciation, the minimal positive cashflow, and the appreciation on the property, but It's pretty much a long term play of slowly raising rents annually to increase cashflow, which will eventually get basically reset when my loan goes P+I in 10 years.

In firing people on probation, it tends to play out much different under normal circumstances.