Dennis' dad and I actually tripped over something similar back in Chandler.. we learned to tap into city planning websites and even call the permit offices directly to get a real sense of their backlogs.

When I check local real estate listing it’s evident that a number of these properties for sales are former airbnbs that were purchased in the last 2 years and clearly are not worth holding onto for the owners.

Then once you spend the money for that.. then the contractor will simply file a UNJUST Enrichment claim so your back to square one.. 

You can attend all the REIAs and read all the books and sign up for all the conferences, and spend all the money, and you are will never really know you can do it until you do.Over 20 years in real estate in various forms and roles, action will beat out intelligence or education or even network 100% of the time.  

Maybe they don't need the money now but in 5 years they wan to send a grand child to college.

You should not be losing money on cleans. 

So even if you had a buy out agreement negotiated up front and execute that buy out agreement, the bank would still require him to be guarantor unless something drastic changed on your side financially.The best scenario here would be to purchase and rehab the property using a hard money lender or bridge lender.  

Check fees are $10**** When buying physical real estate, you must have a 10% cushion of the purchase price**We waive the first 6 transaction review fees for the life of the account.*** The first 12 incoming checks are free each year.

Matthew, DFW real estate is awesome.

For a BRRRR if you are using debt most people will use some sort of hard money to purchase and a construction loan to fund rehab (unless you use cash).