I have a lot of experience on the design and construction side, but I lack experience on the finance side.I made several errors up front:I overpaid for the propertyI underestimated the renovation cost (uncovered several high cost necessary repairs)I didn’t (and still don’t) have a clear strategy for how I can refinance to pull some of my personal capital out of the property.Overestimated rental incomeSome positives with this property and experience:I learned a ton during this process that I would have never learned in a course or reading a bookAppreciation: The neighborhood seems to be up and coming.

They may be insolvent and it just hasn't been uncovered yet. 

It will all depend upon what the Phase 1 uncovers, if anything, and then the lender may want (or you may want) a Phase 2 performed after that. 

Again, it really depends on the person and what kind of background we were able to uncover.

I have uncovered a lead on a commercial building, that would be prime for a conversion to apartments or condos, but it's so far over my ski tips (expensive), I'm not sure what I can do with the lead.Backstory - last year I connected with the owner, and we had deal for a separate 4 unit, seller financed building ,that he ultimately decided to keep.  

Get ready to uncover the secrets of upcycling, thrifting, and repurposing materials.

I've seen it firsthand on numerous occasions in numerous basements with uncovered cleanouts, etc. 

I find That probate records uncover some great deals. 

As you progress and learn more, you will undoubtedly uncover interesting opportunities.

With time I'm sure we can uncover some and move in the right direction.