I've estimated from realtors and contractors that it'll take $8.5k plus a Murphy bed to command rents in around $1.3k.I'm looking to fix it in mode of the Houston micro condos in that area.  

For those that do/did self manage, how did you find local contractors in your area to take care of various issues with your properties?

I can do or have connections in Pluming, electrical, drywall, paint, etc. ( Jack of all master of none) as I worked for my uncle a top general contractor in the city of Glendora, and I have experience.

I am a Independent contractor. 

However, with numerous structure issues, electrical and heating issues, it may be a dead deal. 

But good point they’re probably going to do it regardless if it’s in the contract or not.  

What is the process to replace the builder/contractor on the construction loan? 

Based on your posting the damage seems to be extensive, especially since it’s affecting the structure of the home such as a floor beam, sill plate and subfloors.It appears there is active termites as well as a beetle issue and both must be resolved before repairs can de done.You didn’t mention home value, just purchase price so it’s difficult to say what to do from this point.At a minimum, I would have the termites and beetles dealt with and get a bond from the termite company to cover the first year for more treatment.Also, have a licensed contractor give you a repair estimate.

For my current price range, it will most likely be a small project house.I would like to network with a general contractor to get rough repair costs before going into a property with the intent of hiring them to execute the work.

Kerry, from Wake Forest, NC, living in Raleigh, NC. I am a father, friend and baseball development coach.  I work in the telecommunications industry and enjoy what i do.  In search of financial freedom for a number of...