When you're looking for properties to renovate but not not local to check on progress of the project, it's important that you find or get connected with a general contractor that is credible and has references that you can see.

I'd suggest looking at flipping your current project or be content leaving more equity in the deal and not pulling as much cash out.  

If the project seems like it has potential, then follow the steps they give you.

I'm having contractors over the next two weeks to see the project and bid on it. 

You could hear breaking glass and things falling out of the ceiling ( HVAC stuff ).

I figured I would still have to be very involved in this aspect, especially doing more than one rehab project at once. 

He suggests that projected rents would be $5,400.

Purchase price: $220,000 Cash invested: $70,000 Sale price: $460,000205 Hermit St is a project we wrapped and sold in early 2024.

It checks all the boxes to be legal - 2 egresses, windows, 7' ceilings, bathroom, full kitchen, etc. 

Southern border of the land is Wilson Creek (a large, well established, full time creek with old growth trees)Approx 1 acre of non-recoverable flood zone along length of creekTwo small ponds on the property, which can be filled in to utilizeSmall neighborhood to East of property line with utilities ready and available for project Currently a couple of older homes and barn structures on property (100% liveable and well maintained)Wilmeth Rd is currently expanding down the block to a 4 lane road which connects to Highway 75 in McKinneyLarge developments are underway within a 1/2 mile to 3 miles out radius<4 miles to Costco, ChickFilA, WholeFoods, Cinemark, major hospitalAT&T Fiber and Atmos Gas at front of propertyA water well can be run, if desired, or tap into the city's water (currently on city water and has large main at front of property)A CE firm has drawn up plans for a small, 12 home, 3/4 acres development.