After 21 day review, the permit is ready for pick-up and initial inspection, but things have gone bad with this contractor on another project (he's now breached both contracts timelines by a longshot).

At the end of 3rd month, I have to catch up and  have to mkae payment for all 3 months.My questions:- Being a real estate investor, will this affects (good or bad) my credit score in short and/or long term?

I'm not a handyman nor do I have any interest in that but I love the deal and analysis that comes with the world of investing and flipping.I live at home with mom and she is discontent with my career choice as I only work about 25 hours a week and not a traditional 9-5 schedule.

I am having the outside painted so the Ultra White from Valspar, although exterior, turned out to be a good choice.

The home has $100k in equity so my first choice was to just expand that line of credit which would give me enough for purchase and rehab and then I could do a cash out refinance on the new property and pay off the HELOC.  

Now for the bad part, we could probably come up with about half of that amount total as down payment.

I thought it would be best to reach out to the BP community to hear the good (and bad) from other local investors of who they have worked with.

When I walk through a place, I don't see how it looks but what it could look like based on the type of work I am capable of.I personally like homes from the 50s (good thick hardwood often hidden under a bad carpet) but avoid late 60s and 70s (popcorn ceiling = asbestos) and often cheaper construction grade.Overall, I found that flipping is a good way to turn your free time into equity/money and a great learning experience but it is hard work and definitely not for everyone.

Is this something everyone comes across quite frequently and i just have to accept the fact that a majority of the people out there will most-likely not show up at all or am i just running into some bad luck during my first go-around?

They can be inconsistent certain months they're good and then few months they can be bad.