I do agree that for all parties a fixed price estimate is best (you need to know how to estimate properly).To be successful as a GC, things like getting a large deposit, making sure you are always staying ahead on billing and are spending clients money and not your own, marking up all costs at least 20% to cover OH&P, billing appropriately for change orders, not to mention staying up to date on latest building methods and continuing education, are the minimum requirements to last in this business.Of course you have to keep construction costs as low as possible when you are rehabbing a real estate project.  

The other difficult part is knowing where to invest.

Can a condo association go after a third party bidder for a Final Judgment of a Foreclosure that the association gained title prior to the bank foreclosing?

Local agencies often miss out-of-state information and those three (Transunion, Experian, and Equifax) are generally considered the most comprehensive and accurate.You don't have to go through them directly, though, many third parties pull their reports.

24% delinquency by private party owners?

He could buy with another party as tenants-in-common so that they are each treated as owning a direct interest in the real estate. 

I imagine EVERY party who has paid interest on their business Loans can claim so.

I do not not make referrals to third parties without direct contact after understanding the issues directly.

Additionally, he was very clear he didn't deal with third parties and would not wire money to attorneys or closing agents and certainly not before receiving the fee.

If for some stupid reason the parties overlooked this in negotiating the sale of the building then the new owner is stuck for what ever is down as security deposit on those leases and is responsible for honoring that to his new tenants.