When I try to look at new markets, I like to look at the listings right on Airbnb first, look at if the current BNB's are performing well?.

It will say there if you just recover your money or have the right to sue for performance.

My questions are what tasks are typically completed during a turn and what is the average cost and time to fix up a unit?

Last time it was a non-performing loan in Texas where it exceeded UPB because they indicated the legal balance was so high and the initial filing had been done.  

Most multi-family properties do not perform well in CLT due to how hot the market.

Find ways to spend more time on tasks that will lead to a higher execution rate of deals.

Do you have to take a hit and invest even more of your own cash into the policy because it didn't perform like the 10% proforma?

I guess my real questions are:Can I be penalized for their failure to perform, assuming they don’t send me the renewal prior to that 45 day mark?

My initial plan was to perform land development and subdivide into 1/2 acre tracts and owner finance them starting prices at 60k per lot plus a reasonable interest rate depending on how long of a term would best fit the buyers budget.

Owning a poor performing property is not how you want to get started.