The opportunity to upgrade/raise rents significantly and or one day a total redev might be something to consider in a deal like this or any property that is in the path of RE progress. 

Looking forward to seeing how your plan progresses @brandon.

Have been doing a lot of learning and studying on wholesale real-estate... though i knew it wouldnt be easy I've had very little progress in 3-4 weeks.

Their job was to interface with the on-site Project Superintendent(s) and Project Engineer(s) who sit on those ugly jobsite trailers from day one to last.Now a small boutique builder and remodeler probably has Project Mangers either directly on site or floating from one project to another assuring progress and monitoring quality.

Lots of regions in Portugal still have a lot of progression potential.

Interacting face to face will help tremendously with forming those critical relationships to aid your progress.

Post updates on your progress with pictures!

New construction in the path of progress of a strong market.

New construction in the path of progress of an exploding market fueled by strong population and job growth.

If he/she is using their own direct labor force, cost-plus would net them a profit on hourly wages, even if nothing is progressing...I would recommend doing a thorough due diligence on this Contractor and their supply chain of Subcontractors.