I guess in my area we have lousy plumbers because a primary concern was always poor plumbing connections and clogged drains from construction materials.

Small electrical and plumbing parts I let my electrician and plumber buy.

:D Real Estate Investor - Any of several unemployed individuals who spend the majority of their day painting and cleaning properties, staring at their computer monitors looking for deals, or talking on the phone to countless agents, contractors, lenders, etc. all for the express purpose of avoiding a "real" job.Tenant - A sub-group of life form that neither understands the basic fundamentals of cleanliness or operating a simple traditional stove top without causing over $500 worth of damage.Landlord - A multi-millionaire dollar narcissist who owns a phone that apparently never rings, an e-mail account that never receives, or a mailing address the post office never delivers to.Buy & Hold Investor (cash-flow) - A landlord who realizes after acquiring, rehabbing, and leasing several dozen properties, that he still doesn't have enough income to get off food stamps.Buy & Hold Investor (appreciation) - A speculator who holds onto his properties for several decades with the ultimate goal of making his great-grandchildren very wealthy.Note - Various discrete elements that make up music.Points - The sharp end of a nail or screw.Hard Money Lender - See "Loan Shark".Paint - An opaque viscous substance that exhibits the following properties, 1) costs far more than one would expect, 2) never looks the same on your wall as it did in the store, 3) covers half the area stated on the can, and 4) will only clean up with "soap and water" provided you add bleach, acetone, and sandpaper.Wholesaler - A mysterious sort of creature that makes large expensive purchases despite having no money whatsoever.Flipper - An overly dedicated individual who spends 2 to 3 months renovating property for a profit only to find they averaged $1.25 per hour.Motivated Seller - A rare and endangered species that has been hunted to near extinction by various investors, wholesalers, flippers, etc.Lender - An institution possessing a large quantity of capital not available to the public as there is more profit to be made in bank fees than mortgage interest.Asset Manager - An agent of the bank that couldn't tell the difference between a house and a shoe box.Foreclosure - The process a bank uses to seize a property from a homeowner and sell it for a loss rather than modify the loan and make a profit.Multiple Listing Service (MLS) - A large compilation of homes no longer available.Realtor - A member of an organization of real estate professionals open to several people who don't know anything about real estate.Bird-Dog - A motivated go-getter that performs 90% of a Realtor's services for 10% of the cost.Fixer-Upper - A term used to describe a house that only needs new paint, new carpet, a kitchen remodel, re-piping, re-wiring, several major structural repairs, and a foundation which requires a team of seismic engineers to fix.Turn-Key - A term that describes a "fixer-upper" (see above) that has been completely repaired and is available to an out-of-town investor for 20% above prevailing market rates.Contractor - A member of a special fraternity that shows up at your property to collect a check and at no other time.Appraiser - A professionally licensed individual with a tape measure, clip board, and camera who spends hours compiling a 30 page report telling you something you already know.Home Inspector - A guy with a ladder and flashlight who charges you $250 to inform you that you really need to speak to a licensed contractor (see above).Plumber - Somebody who gave up their medical practice in order to triple their earnings.Real Estate Guru - Somebody who gave up their plumbing business to triple their earnings.Bootcamp - A place would-be real estate investors go to part with the cash they could otherwise be using to purchase real estate.

The PM works for the owner as does the GC, however, do you want to place the responsibility of color choices, which plumbing fixture to buy, which model ceiling fan to purchase, etc on the GC?

Sub out what you can't do (HVAC, Roof, rough plumbing/electrical, etc...) and the do the rest yourself :) With the money saved, you can buy tools & books and STILL keep additional money in your pocket.

I would take a close look at both the plumbing and electrical due to the age of the building.

A Section 8 inspection doesn't mean that even that unit is up to code.Many factors can be grandfathered in (a fuse box or an old electric meter base) or some issues may not be part of the inspection (plumbing or internal wiring).

Location: Kansas City, MOAsking Price: 70KRepairs: 25-27KCash In: 95-97KElectrical, plumbing, framing, plans done.

my area may be different than yours (it seems i have to pull a permit for anything these days), but that being said:replacing toilets, showers, sinks, vanities, cabinets, windows, exterior doors, electrical sockets, switches....these are all things i'd have to put on my permit..if you're gutting bathrooms, i would think you need a permit for that..when i gutted a bathroom, it required electrical permit for the wiring and moving of lights, plumbing, and mechanical permit to vent the exhaust fan...anytime i open up drywall, i also have to pull a building permit, like if you're gutting a bathroom...you really explained this whole list to the county/city, and they said ok??

It's still being rehabed as we speak, year later. quick cosmetic flip ended up being full kitchen and bathroom guts, all new electrical, plumbing and such.