It's a calculated decision based on at what stage and condition the building is in.For retail if there are no demising walls yet and it's in a cold dark exterior shell condition the all in costs for putting in walls could be 35 to 40 per sq ft with plumbing and ceilings etc.If you have demising walls already could drop to 25 to 30 a sq ft.

If it required a license, we hired a licensed contractor.We did the demo, flooring, painting, cabinets, replace prehung doors, replace plumbing fixtures, and replace electrical fixtures.  

Sean Terry interviewed him on his podcast #64, a very thorough discussion of his method which revolves around marketing to landlords  (a very saturated group nowadays).Anson Young talks about it in his bp podcast and Rob Swanson has a course on it that I haven't seen but he's interviewed by JP Moses on Moses' website. 

We need a new or additional plumbing subcontractor.

At this point, you ARE the junior lien holder so, whatever method you need to employ to get them to give you the payoff should be fine.

@Rick HarmonYour method of determination for pursing a lead is right on!

Adrian Smude I do have a question on your method.

and patch on the ceiling (HVAC Re-route)- Master Bathroom( plumbing - shower stall not properly installed and leak going down to crawl space, cabinet not secured to the wall, GFCI not grounded, faucet aerator leaking)- Kitchen (damaged vinyl, exhaust not working, very dated kitchen but I think I can salvaged the cabinets and just replace the tile countertops)- Ceiling fans are not operable and missing HVAC registers.- Garage (moisture stains, wall damaged, laundry hose bib leaking), partially converted to a room.

Does your method of investing fit into your market.

I'm a young investor, and purchased a property via the "house-hacking" method back in November of 2014.