You'll want to be clear on the IRS rule for material participation if you do decided to switch to property manager. 

Spend more than half of your total working hours in an RE business in which you materially participate.2.

They took on more projects than they can handle just as a number of market variables turned against them: materials costs and availability and staffing, both back office and subs, just to name a couple.

The contract must contain:the contractor’s name, address and telephone numberthe approximate start and completion date, including any contingencies that would change the completion datea description of the work to be performed and the materials to be provided to the consumer, including make; model number or any other identifying information; and the agreed-upon price for the work and materialsa notice advising you that you have three business days to cancel the contract, unless during an emergency you waive the right in writinga notice that all payments received by the contractor prior to completion of the contract work must be deposited in an escrow account

I would need to know more specs on the house but with material shortages It's difficult to say how much to budget. 80K-120K for full gut perhaps but unsure with lumber beings so expensive and shortages.I would plan 9 months of vacancy between the pain you will endure pulling permits & having your contractors show up everyday to complete the work & then final inspections to get a CO. 

:This discussion thread should be re-titled "Everything that's wrong with the Internet". 

With time management, sourcing materials and learning how to complete task on your own.

To gain investor confidence, ensure the investment property numbers are real, use the most common contract forms in your state (versus a 2 or 3-page) internet/guru contract form) with appropriate addenda, or an attorney-drafted form and attorney-drafted assignment agreement.

Here's a few examples:Does the lender release for materials on site or do they have to be installed? 

Oh look, you get to deduct your cell phone, your internet, your tax prep, all kinds of other things regular people don’t.