It would still work out going either path I think, I mainly want to make sure my time is utilized the best with the overall goal of a bigger rental portfolio.

So a family member gets sick and let her house which was bank owned with a mortgage get behind on her mortgage and utility bills to the point of potential foreclosure.

She is looking for freelance work to bring in some extra money.I can utilize her for working on my social media presence, SEO, and some other administrative tasks around marketing.I have already told her that it will probably be small tasks to start out with and I can't pay her anything steady until I start getting more deals and bring in more income as I scale.Curious what everyone is paying for this type of work?

More often than not mechanics break down as a result of the house being foreclosed and not utilized for an extended period of time. 

On the other side, you could have a new build that owner pays no utilities there are no major maintenance issues because the building is brand new and operating expenses ratio could be 30-40%. 

Since we have a property recently paid off, I am wondering what are the options out there we could use to utilize this opportunity. 

From this data, you can utilize a website bestplaces.net that will give you a breakdown of the percentage of homes that sold, in various price ranges, for a given zip code.

Data Points:101 Latham Place, CharlottePurchase price - $116,000Buy Side Closing Costs - $5000Total Rehab Cost Budget - $100,000Total Financed Amount (purchase + construction costs) - $190,000Estimated time to Rehab: 5 Months (based on conversations with multiple GC's and Architect)HML Cost to Borrow Interest  - 10,000 (12% rate on 190,000 borrowed across 5 months)HML Cost to Borrow Points - $7,000 (3.5% on 190,000)ARV - $310,000Exit Closing Costs - $3,500Staging Company to Sell - $3,000Holding Costs (utilities, taxes, insurance) - 2,750The Total Rehab Costs is based on what I believe to be a reputable GC who has experience flipping in this neighborhood.

Looking to utilize my experience, connections, skills and qualifications to grow a network of investors, developers and contractors to create an (or several) eventual company(s) to build strong communities.

Tenant will assume all utilities. https://www.biggerpockets.com/calculators/shared/408703/7be98a82-09de-4af0-b855-a0f8b86182c4 Any input or advice you may have would be greatly appreciated.