If the work is not 100% complete by the end of the Escrow period, may implement a .50% (on total loan balance) extension fee that will cover an additional construction term of 60 days.

Build 2 or 3, get them running, collect some cash-flow, and see how the business goes.

I have a C-Corp (no assets) as the Prop Manager  to manage leasing and rental collection for all 4 LTRs.

I think we will see an extension of the unified estate/gift tax credit set to expire 12/31/2025.

If you catch these at the pre-foreclosure stage as slow pays or initially in default all the better as the bank has less in collection expense.You can still work out a discount but even buying at the payoff it can be profitable depending on the property value.You can practically force a lender to sell as it can fully indemnify them as a full payoff as demanded, continuing with a foreclosure becomes a rather vengeful act by the bank to punish a borrower, they don't want to go there.

If the property only needs light cosmetic updates, 3 months might be doable, but for more extensive renovations, it’s going to take longer. 

Higher rent, guaranteed rent payment, collections and damage you just call their commanding officer.  

Simultaneously, develop a detailed scope of work and collect bids from multiple contractors to compare costs and timelines.

Hi Shawn-Congratulations on starting out on your real estate investing career.You have a question about whether it is good to have your real estate license or not as an investor and you are leaning toward multifamily investing.I personally think having your real estate license is helpful as an investor.Having your real estate license allows you to work with other investors to help them build their portfolios which helps expand your network while being productive, you can research market value more effectively, find out about deals before they are listed, and of course it allows you to collect the commission on purchasing any listed property.To Your Success!

Sometimes maybe often times they aren't doing enough to track down the owner or owner's heirs and just collecting checks from the court.