I guess where you guys live, it is not required to have a Mold Remediation Company do the work?

Investing is a great way to build on generational wealth, you will be required to take risks.

Again, not a legal requirement as much as a good practice.

Everything required on a 203k is how every construction project should be handled.

@Eric Le Yes that would be a solid investment, I like that FHA and 203k loans only require 3.5% down.

Yes they require a deposit.

Our lender required the same thing as what you are saying so what we had to do was have my business partner sign a lease for us that stated when he would move in and how much he would pay in rent.

Am I required to issue a 1099 to my friend for his labor?

(Yes plenty of my acquisitions are "wrecks" as you call it, and require significant expense to be made great...). 

Most lenders will require 3-6 months title seasoning on a cash out refi with a DSCR loan.