The contractor seized doing the work and I believe has placed a mechanics lien on the property.

Our strategy is to find properties in the Germantown, Logan and Olney areas of Philadelphia that need renovation, with the goal of holding and renting them out long-term.We’re currently looking to connect with experienced contractors who can help us accurately price out repairs and renovation costs for potential properties.

If you were to read through the Chapter 3 Building Planning in IRC you would get a pretty good idea of many of the basic requirements.The best way to learn this quickly would be to take a general contractor test prep course. 

They should be able to give you an idea of what needs to be done vs. what can wait and rough estimates/recs for contractors.

I've had my contractor pour a leveling liquid over sections of floor and then run LVP or carpet overtop to correct for a few inches (1-3 inches) in drop in a room or two.

I just had my general contractor do the same thing as a public adjuster would do.

Very few succeed with this model and those who do are the contractor types who are driving around in their work truck putting out fires all day.

The one item I am not clear on is the 50% contingency on top of the contractor bids.

General Contractor?

Hi Shayan,If it were me I would make an offer contingent on contractor walkthrough right at the asking price.