I would love to hear your progress. 

Hi all,
Nice to meet you! I’m 24 years old and just started studying up on real estate investing. I’ve been watching a lot of videos, reading and listening to podcasts to educate myself on the process.
I’m very exci...

After two months with little progress and lots of money spent we hired a handyman.

Looking for advice on how to take possession and assess the rehab needs (including GC access) of a long distance auction purchase property after it has closed. 

I trust them but still wouldn't want to take full responsibility for the mortgage without any legal protection.Our lawyer suggested that we talk to lenders (in progress) and get under contract before officially forming the partnership LLC.

As long as the building doesn't have an assessment anytime soon.

I dunno...that seems more-legit and less-sketchy to me than pretending like it isn't thrown in there.The premium is usually paid because the property has already been assessed for and repaired, management is in-place and offered for the future and finally, tenants are already in the units paying rent.

The tax assessed value for that property is $105,540 multiplied by the unexempt tax rate in Dallas of ~2.74% is $2,885.

That's great progress! 

Even if your estimates are accurate, property still won't even meet the 1% rule.It would be one thing if after all the work, rent was 1.25% to 1.5% of the total investment.Then it might be worth the risk.The other issue is the area does not sound "ripe" for future increases.Is it in an area in the path of progress?