If they are cash-flowing and easy on management, there is no reason to refi to pull the equity because you will really hurt your cash flow with the higher rates.The best first flips to me are dumps that only need direct replacement and not a square footage add or a ton of walls down just for timeline integrity.

Think it is the concrete walls top, sides and bottom. 

So you want to know how many sheets of drywall or how many lineal feet of trim or how many square feet of wall is being painted per hour or per day, so you can compare productivities?   

A huge number of properties we have looked at would have issues on this front.It can lead to an opportunity to improve the value of a property if you can buy it with an illegal area, get that area legalised and then sell on with a higher value that the bank would lend against, but it's not clear cut and it seems though that there are almost two levels of 'legalisation' - we were able to register all of the annex on the plans and could fully incorporate a portion of it but there is another portion that is too close to the back boundary wall that should only be used for things like storage and not ever for habitation. 2) During the purchase process be careful, amongst other issues with this property we had the situation where the seller's lawyer was not actually a lawyer (having been struck off).

If you can reasonably throw up a new wall and closet, turning a 3 bed into a 4 bed, that is a great place to start, but only if it works for the property and you have at least 2 full bathrooms.  

Some counties in Indiana would refer to this as an Accessory Dwelling Unit. 

The blood spatter on the walls and floor?

It's understandable that unexpected things arise sometimes, especially when you're opening up walls or dealing with older electric or plumbing.

My friend said his client nearly bailed when she found unexpected wiring issues behind the kitchen walls..apparantly the seller hadn’t touched that electrical since the Reagan era..but with a patient electrician who understood the local code and a carpenter who improvised a shelving trick in the diningrom, they ended up selling above asking.Flipping and building can get tricky, especially once you start thinking bigger.

For example if you asked him to only paint a wall but the wall does not look good because the drywall itself is bad - that is not his problem because you did not want the drywall fixed.Specify what it is you want done and if complete you will release the payment. if he disagrees then he may sue and then let the court decide.