All your go to contractors should have a copy of that key as well.

Get firm quotes from contractors for the renovation work to ensure your budget is accurate.

You are behind the debt, as is understood, and behind any contractor liens filed on the property.  

This allows for a wide variety of ways to achieve the goal thru all aspects of real estate; investing in assets that have great capital gains potential but may not cash flow (options, land, redevelopment, gentrification, etc. ) utilizing “fee income” to build my estate (syndication, brokerage, partials, participations), and “creating” high yielding notes, and “creating” wealth through creative real estate buying, selling and exchanging. 

It’s as if you gave the money to every contractor who suggested a repair. 

For your scenario, there are no one time close options for something like that, but I wouldn't do a 1 time close anyway because they are an absolute nightmare for clients and developers/contractors who actually want to get paid in a timely manner generally. 

We signed up with the HERO program through a contractor called Elite Home Energy.

Unless you are incredibly confident in your reno assumptions, I'd recommend getting a contractor out there ASAP to give you an accurate reno estimate if you want to go that path.

However, as long I keep good records, I can still correctly report my income.Here is the link to the Flat Fee Program. https://vrgne.com/flat-fee/Here is the link to the Independent Contractor Agreement:https://thevirtualrealtygroup.com/VRG-ICA-OPPM.pdfIn summary, after paying the annual membership fee of $327 and $595 per transaction fee, the agent gets to keep 100% of the commission. 

I was very fast and scheduled 3 contractors the next day.