Is there any known electrical issues?

Getting an ugly house to reach its ARV potential usually means you need to manage contractors, which is not what lenders are in the business of doing.  

What I equate completely renovated to is they replaced all plumbing, electrical, heating and air, water heater, new roof, new siding,etc.

Lot cost is $500K and looking to build these 2 buildings for $400K with an ARV of $1.2M - $1..4M depending on the finish out.Please reply with your recommended Austin area Home builders and General Contractors so I can start the due diligence and bidding process for those interested parties.  

I'm a licensed Realtor, they are both unlicensed contractors.  

Some are automatically transferred from your Cash Flow expenses (water/sewage, insurance, property taxes) while others (electricity, HOA fees, etc) need to be added by you within the Rehab worksheet.  

I plan to wholesale the property and told her to bring a spare key ( I explained it was so I can have my contractor give me estimates on repairs & such) to which she replied being him with you tomorrow.

However, many new investors (or those unwilling to  learn) don't understand how to really do this - how to really estimate what needs to be done as part of a rehab in order to get the property not only ready to sell but also to be competitive with other homes on the same market, how to really vet a contractors bid, and as mentioned before how to choose the right comps.

Working with contractors require lots of flexibility.

If the management expenses and legal fees don't pencil out, you've simply bought yourself a job, like we see many contractors doing on fix-n-flips.