I'm in a situation where it's not in danger of collapse, is dry and hasn't moved since I put in the beams 3 years ago.  

If your investing goal is  getting huge returns for great buys, I can certainly understand because I am looking for strong deals too but they have dried up a bit and prices have gone up high....again... hmm...( been doing this for about 25 years).... another cycle? 

The living area of the basement has lights, dry wall, paint, electric outlets, etc.

Just think about that for a minute folks.Residuals is what can suck a business dry.

Both pros and consPROCESS MANAGEMENTHave punctuated check-ins to prevent expensive reversals of major work (closed walls, etc)Some incorporate 12–13 check points for renos (dry wall, plumbing, inspection, etc)Include others on team as needed like architect, structural engineer, designer = creates system of checks & balancesGCs may oppose very specific timelines since much uncertainty with availability of sub-vendorsManage timeline of how long different team members stay on, e.g. architect may only stay on through primary buildIf GC is already working nearby on another property, reno can move faster by limiting GC travel time from other jobs, etcContractors not always great project mgrs — CDP reviewed manpower & timeline plan with GC, and gave input that took multiple wks off project timelineBe particularly present around property for finishings, and KNOW your preferences (outlet placement, etc)A good GC is very adept at managing inspections — knows what inspector is looking for, avoids common pitfallsKnow your “snowball” problems (e.g. one bad decision upfront impacts MUCH future work)MISCELLANEOUSFor foundation, can have slab vs stilts / raised — slab tougher for work like plumbing since limited accessWhat permits / processes can you look up and manage in advance / get started early on?

The house is located on top of a hill and we even reinforced the back fences to prevent stuff like this.Currently we have people drying out the basement.

The 3 current tenants are nails, dry clean and t-mobile.  

Pretend that they are an experienced investor, lie and say that they are the cash buyer, pretend that they have the ability and intent to close on the deal when really they don't, do not mention that if they can't find a buyer they will use one of the other contract clauses to walk away and leave the seller high & dry.

I would have simply told them that the door must be left open so that it can air-dry and/or they need to wipe dry the gasket seal around the door.Your PM really isn't that great.

Now that we finally have some investment money to play with, it is as dry as a bone around here and home prices are on the rise.