Then I would have an inspection + sewer scope done on the property and have a contractor go through it.

If all your plumbing and electrical are in place that would reduce it some but not down to $20,000.

How to vet contractors and negotiate with them5.

I have some great agents, contractors, property managers, and attorneys who I can refer you to!

if the electrical needs to be updated, that is OK as long as that is factored into the numbers, and as long as you have someone competent to do it.  

Work directly with on-site Construction Project Manager to insure project construction is per plans and specifications from start to finishProvide supervision of sub-contractors on project siteAssist to ensure construction activities move according to pre-determined scheduleCommunicate effectively with SubcontractorsDaily inspections and presence on project siteIdentify any project design and construction issues and bring to management team.Oversee and report progress of project against project plan scheduleCoordination with Construction Project Manager, all necessary work flow schedules and monitoring of same to insure all deadlines are metInform Management Team of work progress and of all significant matters relating to the projectDevelop strategies to promote efficient and cost-effective work practicesAbility to step into and perform duties on an existing under construction multi-family project.Recommendations will be required.Thank you,Anat

There are no bad contractors, bad tenants, bad banks, etc.  

I'm also checking with some contractors and attorneys in my network.  

Partnering with a strong team—such as a knowledgeable realtor, property manager, and reliable contractors—will also be key to your success.

Due to high demand, many investors in Austin are finding they need to adjust their approach a bit to make the numbers work.Rehab Budget: Ensure that bids are received from multiple contractors and that adequate reserves are made for cost overruns.