Even in very exacting jobs (e.g. space craft design), where even a small mistake is literally a mission critical life & death issue, they use 'rules' to avoid over-engineering (or to use another phrase 'analysis paralysis').The 'rules' for real estate investing are not intended to be exact or fully comprehensive.

Hello,Like many on the forum, I'd always found the idea of RE investment attractive, I just didn't know where to start.  

To help attract partners you may want to have an idea of how you would structure the above deal and what your needs are.

Buying land and constructing looks to be attractive play to me . if real estate corrects by 15-20% then all i am losing is the 15% profit margin assuming i have assessed things accurately . 

This is considered the biggest attraction in town.

This should attract the most applicants, and give you the best chance at getting a good tenant.  

The better you buy the faster you can get it sold and offer more attractive price and terms.

If I was in your shoes I would tell the tenant they can pick out a storm door and email it to me, if it fits in with the rest of the building design then they can certainly have it installed.

So, I just bought my first house in Tacoma Washington and its ready for a complete remodel and possibly an addition. can anyone recommend a general contractor in my area or a designer?

One advantage of doing it all at once is that the building is all fixed up and it's easier to attract a higher caliber tenant.