If you don’t mind a little more advice…when I’m running projections like this, I like to use the worst case scenario and if the numbers don’t work out in that scenario, I usually pass on the deal.

I got a deal on labor as I know the contractor personally and helped out a bit with the project.

Plus, it would be a first renovation project, and other properties we may be able to close on are huge projects.

—----------------------------------------------------------------------------------------------------------------------------Subcontractor Agreement TemplateThis Subcontractor Agreement (“Agreement”) is made and entered into on [Date], by and between:Contractor: [Full Name/Company Name] [Address] [Phone Number] [Email Address]Subcontractor: [Full Name/Company Name] [Address] [Phone Number] [Email Address]Project Details: Project Name: [Project Name] Project Address: [Project Address] Project ID or PO Number: [Internal Identifier, if applicable]1.

Second, their website does not mention a single thing about COMPLETED projects.  

Our team buys the properties and converts them and manages them so it has been a great learning experience seeing all three phases from taking down a project, renovating the building then managing the lease up.

Quote from @Tim Halbert: I've been using Obie for several rehab projects in TN. 

Fast forward four months later and $30,000 in renovations, and the project was still not completed.

We're largely looking at value add projects (aka BRRRR **cringe**) so that the vast majority of capital is coming out once a refi is done.Not vanilla, obviously.

And yes, I've done fire restoration projects.