The asking price was 125,000 and after I did a walkthrough with my agent I offered 100,000 because the house needed some serious work done.

It's a more affordable market and lower property taxes, so you may actually have a chance to cash flow.

Instead of evicting them, i was thinking is there some way that I could rent it back to him for very cheap (mainly to cover just the taxes/ insurance) ie 2k a year rather than the going rate of 2k a month for similar properties.

We would like to refinance as soon as possible after the build to recover all or most of our initial investment.

Pete area  after the recent hurricane and was hoping to get some real, boots-on-the-ground insight.

BTW behind Texas.When all forms of taxes are calculated (income, property, and sales tax), CA ranks below the middle of the nation in total tax rate.  

Does he understand, Deeds, Due On Sale, Insurance, tax implications, servicing, contracts and so on?

That was after vetting many properties eliminating them before starting out.The more you do. 

Another option is investing in real estate through partnerships or fractional ownership, focusing on properties that yield cash flow or appreciation potential.For long-term growth, consider diversifying into assets such as private equity, tax liens, or even certain types of real estate that offer both capital appreciation and income potential over time.

I have brokered over 250 deals after taking Private Money Broker.