Would you all recommend taking a General Contractor to a potential property and paying him for his time in exchange for him giving a good estimate of the scope of work? 

Need to build a team: Property manager, Title company, property inspector, contractors, etc.  

@Raquel Rigby On my live in I flip used a credit card to pay contractors.

All, I got below quote from a contractor and it is much higher than expected.

PP $210kDP $15kRequired roof repair $15kInspection currently taking place this morning so unknown additional repair costsCurrent rents $2345 Owner paid W/S/G & exterior electric $544taxes $2200 /yrInsurance (awaiting accurate quote) estimated $1200/yrSeller financing $195k at 5.85% 5 year balloon amortized over 30 years with monthly payment of $1150.

*new roof*interior and exterior paint*new flooring*updated electrical system*opened up doorway between dinning room and living room*all new kitchen (cabinets, stainless steal appliances, granite countertops)*trendy board and batten window shuttersThe top selling points were the beautifully tiled bathrooms and kitchen backsplash.

You still need to maintain the properties, you still need to have good property management, be careful with tenants, hiring contractors, etc. 

You can perhaps add the business as a cosigner if needed, but ultimately you want the family on the lease because they are living there and if the employee gets fired, they are the ones responsible for rent. it is irrelevant to you who the rent comes from. if it was a company renting so they can put up different contractors they have to fly in and different people will be living there at different times, that would be a different setup.

What is the best way of building a cabin through a contractor?

PITI: $1,200.5% Down Payment of $163,000 Purchase Price.Property Appraised for $190,000 right out the gate.Originally paid Gas/Water for both units and electric for 1 side, but am in process of switching electric over to new tenant, which should save $140-160/mo.