With Phoenix, I’ve got my finger on the pulse of neighborhoods where you can still snag undervalued properties and ride the wave as the city keeps booming.

If it's something that you have caused then it needs to be corrected.

Everything you posted is correct except your definition of “profit” unless you only paid $140k.

AlyssaIt is great if you have the correct team and have boots on the ground and meet them in  real life and vet them..:)

Another guy wouldn't pass me at all because I showed him up...yet another kept insisting that his interpretation of a plumbing code was correct when it was not - cost me 1 month of time.A neccessary evil IMO, they were usually former GCs who couldn't make it in the real world.....  

Correct, I need to apologize for keeping my example too simple when most people on here are much more sophisticated in investing than I am.

@Patricia Steiner is 1000% correct.

Developing that trust with someone you don't know may seem like a challenge, but if you approach it correctly, you should be able to achieve a pretty solid foundation of trust.The best way is to talk to others who have had an experience investing with the sponsor already.

How do you know if the electrical was done correctly?

Just pick your properties correctly.