Looking to work with an realtor to purchase SFH property in the Allen TX area (within a 30 mile radius) with Buy/Hold and BRRRR experience and connections with trustworthy contractors.  

New build in Midwest is about $150 sqft if you can even find a skilled contractor to do the work, key word here is skilled.

@Dave Foster As usual, good news or bad news, Dave has the answer.I'm on my boat right now enjoying my first adult beverage of the evening.  

I’ve been reading bp for over a year now and always enjoyed reading success stories.

The standard offer and purchase contract does not address your 2nd option so you would need your own contract or an addendum which you would have to pay an attorney for.

I think you'll enjoy them!

You are an independent contractor in business to generate your own income with your license under a brokerage in most states.If you really want to be an investor you might want to consider going to work for a large multifamily investment firm where you will be living.

Since it would be the first project, hard money might be tough, but we have good relationships with locals contractors and both have solid income and credit. 

I don't know what your contractor network looks like, but given what's likely, you're probably going to get soaked renovating this place from where you're at.

Some contractors may cut corners in order to maximize profits while meeting the guidelines of the developer.