Based on your advice (Nathan) I think I'll be adding the criteria that holdovers will be charged at 4X normal prorated daily including the day the keys are retuned.  

And when you're building in the right sub market, a ton of value can be added by doing new construction for the exact reason you described (construction costs 137/PSF and finished value 220/PSF)I say do it as long as the numbers make sense as a rental.

Also, many leases state that each person on the lease is liable for the entire amount of the lease, so reach out to the others on the lease and tell them they will be added to the eviction and judgement.

Then any payments along the way should be added for the day they're paid out(if you want to really go hard, look at including your time investment as well; I do on my personal benchmarks).

Also, are there any legal protections that can be added to the Note that can protect the lender from third party claims, such as contractor or materialman claims of payment or perhaps injury?  

I assumed that LLC would be added after I received the LLC, as is what happened years ago when I opened my midwifery practice.  

Some of the work included would be adding kitchens (pulling plumbing from bathrooms), insulating the ceiling for sound dampening reasons, various small repairs/cosmetics. 

I posted a example of doing a search in Texas for off market properties just make sure you pick a group with a good size following and just post in the group that you are a buyer looking for off market deals, or just DM wholesalers in the group and ask if you can be added to their buyers list.

More detailed post topics could be added so that one could categorize a question/post more specifically.

I'd start looking to link up with a local investor-friendly real estate agent :)  Ill be adding that to the list of things to do!