Even with the high interest rates (~11%) and points (~2), if appropriately planned you can still walk away with a nice profit.On this deal, you'll only need to put down 10% down payment if you go through a hard money lender.

How appropriate would it be to remove it and relist it at a higher rent to test the waters?

What's appropriate for one person may not be appropriate for another. 

I posted this originally in a different forum, but I think this forum is more appropriate.

It would be more appropriate for *him* to be the project manager while you shadow him; if you are the PM you are going to make mistakes that will cost everyone time and money - that goes with the territory.

And I will manage the closing.If I am NOT crazy- my questions is- what is the appropriate commission structure for this reduced list of responsibilities?

Nothing against the craigslist contractors, but you should assess whether that risk is appropriate for your projects.While not relevant, you mentioned something about an expert - for this, I would see whether the contractor has testified as an expert witness in court before.

Also, do my estimates seem to be appropriate?

Give them the appropriate cure or quit notice for your state.

Each property is “owned” by my LLC, which my wife and I own evenly.My insurance agent assures me we are appropriately insured and protected, however I’m wondering if I need to form another LLC for future properties we’ll be purchasing...