My husband and I are new investors and we are trying to clean up our financial messes so we can be on our way to financial independence. 

It would not make financial sense not to waste the money on insulation though.So drywall only seems to be the verdict.

Sounds like you should hire a professional bookkeeper to manage your financials on the day-to-day or month-to-month basis and have him or her report those earnings to a good CPA who is knowledgable about real estate.

Does anybody have a referral or recommendation for a lawyer to help a first time flIpping investor draft a partnership agreement with a financial investor?

Any suggestions on the most diplomatic and financial way to get the rent up at least $100 periodically until we reach market rate.

But you’ll have peace of mind that you made a sound financial decision.Goodluck!

@Jason JamesPros:Invest in what you know or what to learnBuild your networkTax-advantaged (Tax deferred for Traditional IRA, Tax-Free earnings for Roth IRA)Influence the outcome of your investment (With the stock market, all you get to do is watch.

We needed additional income as we were purchasing our home, so I got a job at a financial firm (had to inactivate my license) and have been there ever since.

Note that this isn't legal advice or financial advice, just something to think about and research.

Or you can put it in a balanced portfolio of investments that you select, with or without a paid financial adviser.