The first fixer-upper or two will be a bit of a learning curve for all parties, your contractor will begin to get a better sense of the type of rehab you do and soon you'll be able to more or less standardize them over time which helps you get accurate estimates.

@Jason Merchey, chiming in here on the last part.  I

Therefore either a third party or the insurer will issue the title policy.Atlanta Closing Attorney, Real Estate Law Firm & Georgia Land Title Insurance Company (georgiatitle.com)

Running a background means they have to fill out an app and pay for their checks to third parties and then whine if I do not accept them.

The best part is that everyone here is excited to help you learn and grow into real estate investing.

The best part is that everyone here is excited to help you learn and grow into real estate investing.

@Charles Hawkins, most times (or at least my bias) is a single family, or even small multifamily BRRRR does not have enough meat on it to make sense for all parties and a split.  

We have recently been working with him on contract terms that both parties sign of course, stating that for every day that the project is delayed after his projected deadline we deduct a certain amount and for every day he finishes early we give him a bonus.

The theory is that if you own an individual asset in an individual LLC, your exposure to liability is limited to that individual asset, and a faulted party cannot come after any other assets, personal or business.

I know there are a lot of anti 3rd party management owners out there, I don't blame you for lots of reasons.