The remaining unused funds becomes your "Seed Money", and moves into...Level #2 - Compound your "Seed Money".  

If you're able to save a good chunk of cash each year, keep the retirement savings going and take advantage of that compound effect.  

That will get you to where you want to be.Read the Compound Effect.  

If this were the case, then you'd need to see if/how the interest is compounded to know exactly how much would be paid back.  

Skim over plaster means to put a coat of drywall "mud" or compound over all the walls to smooth out any old crappy plaster texture and repaint

Would allow you to reinvest your capital to get a 100% compounded ROI in 12 monthsWhat would you do?  

They allow their anger to fuel their inaction, which is completely irrational, but happens all the time as well.Like any major life stressor, it compounds until the person has run out of time, and it is too late to do anything about it.Sometimes when a Seller is approached with a low offer, it only fuels their rage against the process. 

I was going to mention that that price seemed very steep for a non-specialty contractor, and paying on an hourly basis was a major red flag, but I think I now understand.You're already in a potentially bad spot having a family member owe you money, but getting into a contractor arrangement to pay it off could just be compounded issues.That said, to answer your question, I'd hire the guy exactly like you would with any other contractor -- Scope of Work, Independent Contractor Agreement, Lien Waivers, Payment Schedule, W9, etc. -- and pay him like you would any other contractor. 

Currently I am paying 1430 (w/compound account) with FHA but after dropping off PMI and getting a lower mortgage rate I estimate it to be somewhere about 150 per month lesstherefore profiting about 600-700 per month. ( I live in a community and other homes rented for 2K (and they are smaller in size).

Then your investments start compounding and it’s easy to scale from there by trading up with 1031 exchange and refinancing.People will spend $100/month and wait there entire life trying to win $1M on scratch off tickets to retire broke, but if they would make the sacrifices above for 2-3 years they have the fortune.