I'd take it further and try to get invoices of past work done on the park.

They should be hitting you up with invoices over time to pay the labor & materials for the completed subcontracted work.The only subcontracted work I've paid 1/2 down on are cabinets and deposits for countertops from Lowe's and etc.If they simply bid $x.00/sqft for the total project, you'd have a similar set up with well-defined milestones for pay upon completion of that part of the total remodel/new construction.

The only possible problem for you, going with Cost Plus, is that the job can drag on forever with the GC making weekly invoices for the work being done.

I'll try to provide all documents, invoices, pictures, budgets, schedules and financials down-to-the-penny, so everyone will know just how well (or how badly) this project goes.

However if you use your Puerto Rico entity to invoice you for legitimate and tangible services (since you will be in PR) then you can reduce taxes especially if you are a delaer and flip residential or commercial. 

When you focus so much on working on the accounting side you tend to sacrifice your investment side.I want to have a better understanding how investors like you and I, how much volume of invoices, cutting checks, balancing the books, reconcile the bank accounts, credit card, applying receipts, and the likes do you ask yourself that you need to hire someone?

It is crucial that you submit  your draw invoices the same way you submit your initial bid during the acquisitions period.

If the reason you’re keeping their deposit is based on money, create a file that documents the amount owed.If the reason is damages…take pictures (hopefully you have before move-in pictures)keep copies of all receipts in your recordsget invoices from contractors and receipt of payment from handymenSend a notice to their last known address.

Whatever needs to be fixed, cleaned, etc is done by either a handyman or cleaning crew, paid for out of their deposit, and we send the balance of the deposit back along with copies of the invoices from our expenses.

They charged 10% fee of the total sub invoice.  2.