Given the circumstances you've described, it seems you have a strong case for taking legal action against the seller.

A program like PriceLabs also seems like a simple way to make sure pricing stays competitive without having to manually be on top of it.The goal would be to hand this off to a property manager after 90 days or so once we feel confident things can run smoothly with us moving away to the next project.Open to any and all ideas!

If your permitting is straight forward Pasadena is a good place to work.Building for value add rental prospects could be even better.

It seems like a good buy but as a first time Investment buyer its scary are there any coaches out there looking  for a good student.   

She seems to believe the property must be torn down and used for commercial use only.

It seems this is very complex and not for novice and someone without a deep understanding can get taken advantage of easily.

Even if the contractor is out of money, borrowing the $3k to finish the job and get top dollar would seem the way to go.Nothing else is wrong with the house?

It seems fine in the winter months.

Tom Taylor.Nice guy who seemed experienced enough.

Then pick their brains about your local market.I would review listings on line on a regular basis to get a better gauge on what properties are selling for and what seems to be in demand.