I'm assuming it's whole-house renovation work and not fast-start, basic-labor work (like gutter cleaning where there really is no logistical preamble for things like dumpsters, materials, etc.)You need more built-in protection for yourself in your bidding and contractual phase of work.

I am starting my search and analyzing deals phase and your story convinced me to get all the documentation ready even at this early stage because you never know what you are going to find.

Right now, as we just purchased 2 places, we are stuck in an education phase until we come up with the $$$ for another place.

Also, you can have 2 apts buildings with the same square footage and same materials, but one can cost a lot more than the other because of how they're designed/layed out, so you need someone who has actually built an apt building involved in the design phase.  

In my opinion we may be entering into the final phase of the housing boom cycle, wonder how long this could last before the next correction.Below is the link to article from WSJ.http://www.wsj.com/articles/wells-fargo-to-offer-low-down-payment-mortgages-without-fha-backing-1464235261

I am hoping to find RTO; L/O and or owner finance and then turn around and use this as my R.E. recovery phase.

As a newbie who is still in the education, planning, and saving phase, that is exactly what I would recommend you work on.Educate yourself by reading these forums, books, and listening to the BP podcasts.

I am currently in the starting phase of my first deal a single family in Minneapolis purchased thru hud.

Hi, I'm in the very early phase of looking to buy a SFH rental up to 75K. 

-In terms of mechanics, is it recommended to engage banks early in the process (pre-acquisition phase or during acquisition) to get agreement on an assessed value based on improvements I'm planning, or is it best to wait.. acquire the property, invoke all improvements, then have it assessed?