Alright.. found a nice, fully remodeled 3/1, 1000 sqft with .60 acres for sale close to my house.Original asking price - $150k, then reduced to $140k.

The property is vacant and he told me that he would be willing to allow me to start renovating the property prior to closing so that by the time we close escrow the house will be all remodeled and ready to put back on the market.

All other disbursements are project based (i.e. painting, kitchen remodel, bathroom remodels, etc).

A hodge-podge of updates over 100+ years have left the houses with awkward spaces and outdated everything.The larger house is 1,625sqft duplex with a 3 bedroom unit on the first floor and 2 bedroom on the second floorThe small house is 1,150sqft duplex with 1 bedroom on the first floor and 1 bedroom on the second floorAsking price (FSBO) is around $240k for both (7 bedrooms total, 4 doors) but I'm fairly certain there is plenty of wiggle roomThese houses need *complete* remodels.

I had managed construction projects,  but I have never sold a remodel before. 

I’m using a land contract to take possession while I use my own money for the remodel.

Several flippers have told me to avoid it because it can take up to two years just to do a simple remodel. 

A freshly remodeled home haha.

What insuance agency will insure a new purchase if the bathroom needs to be remodeled due to water damage?

I am indecisive on what may be best since our current home has just had a complete remodel so it should hold up well for a while before significant rehab costs are needed, however, I may be able to use the equity in the home for higher ROI properties.