Some things I do to avoid bad situations: screen well, only have properties in good locations where people actually want to live (I find tenants behave better when they know they have a good thing going for them and that they are easily replaceable), set proper expectations, have a rock solid lease, go over it with new tenants to make sure everything is clear and agreed upon, and enforce the lease by issuing a formal notice to pay or quit every single time rent is late by even one day (and charge the late fee), or a formal notice to cure or quit every time there is a lease violation.

This probably provides an adequate level of protection for Freddie.It’s a concept that is hard to swallow.

As stated I’m rather new and would love to connect with someone local who might be able to provide some insight.

I have done well in RE.  

(Note: These are non-negotiable requirements that must be provided) MBE/WBE/Prevailing Wage: All projects that seek City assistance are required to have a certain percentage of Total Project Costs (TPC) that are being performed by certified Minority Business Enterprises (MBE) 26% and Women Business Enterprises (WBE) 6%, as well as have labor costs that pay prevailing wage as defined by the State of Illinois.

If so, is that assuming that the builder builds at cost (and "proves" it by providing invoices/etc. by the subs)?

I am debating selling one but it is Owen county @James WilcoxI can inquire with my tax team but wanted to hear from the experts here with any advice as well.

Utilizing referrals from trusted industry contacts can also provide reliable leads.

I find this level of underwriting lacking with many flippers as well, failing to properly consider the holding costs, insurance costs, taxes, etc.

Hey @Andrew Steffens, well for me it wouldn't be something I would look at.A remote manager of tasks is find in some areas, but where we are is quite rural and tribal knowledge is most important.I know exactly who to call and for what.