There's also a lot of mid-term demand in this area from people moving down and waiting on their home to be finished.

I've partnered with several contractors over the years (before I got my own license) and it is very normal for the contractor to be paid for materials and labor, even if they are doing the build "at cost"It's complicated and as other have stated, you've gotten yourself in too big of a mess to be sorted out by some people on an internet forum. 

The people the seller should have this discussion with is the title company and or legal counsel.  

I think there are a few types of people when it comes to this oft asked questions. 

Capacity and Tolerance. 1) Capacity: how many people can you comfortably fit in the property, is there room to add more, or add more value to the tenants to increase rent.2) Tolerance: How many people are you comfortable living with, if there are vacancies are you able to handle that.House hacking is an amazing path to homeownership, and a nice low barrier to entry into self managing your properties.

At this point its extremely likely the individual will default and the foreclosure process will happen and it gives a person who can access the documents a heads up that this is coming putting you in front of the people in C above.Where do you get these documents from?

Well, this my opinion, if you like unpredictability, constant change and people/contractors with no regards to you or your property then "YES" flips and STRs are the way to go...LOL....I love it!!! 

It is important to note, people would rather rent a cleaner, and newer home, than a "larger."

Sort of a unique way to make money, meet new people and not get stuck with a tenant you don’t like for too long!

One of the things I love most about this community is that people are not afraid to challenge the status quo (ie. the smart thing to do is contribute to your 401k).