You are correct, local banks would go in and sit with them and go through rates and financing and understanding the payment.

@Kevin Sobilo I was speed reading and wasn't actually looking for a perfect analog but your assessment doesn't sit well with me either. 

If property values appreciate well, you might be sitting on a property that's worth a great deal more than todays ARV, especially if you can complete some of the repairs while your grandmother still lives there.

The home was a rental property prior and had been sitting.

You buy investments and everything goes well, so you sit back on your laurels thinking this is a pretty easy gig.

Hey @Chris GarnesI just came across your post, and it immediately reminded me of a project I handled with a colleague in San Diego, Dennis Bragg - https://www.biggerpockets.com/business/page/3607  - You’re sitting on some serious potential with these two properties, and your plan to step back from construction while finishing them makes total sense.For Home 1, with no mortgage and a prime design upgrade underway, you’ve got flexibility that most investors would envy.

If all you are doing is just sitting and waiting for tapes to come to you, you will eventually find some deals, but it will take a lot longer and you will have to kiss a lot of frogs before you find the princes. 

Acquired 3 lots on mulberry st near west end of Cincinnati about 3 years ago still sitting on it.

Nothing to get crazy about but no need to deal with tenants, property taxes, repairs, vacancies, etc. just sit back and collect.

We'll try to figure out if there is some defect causing that unit to sit.