@kai@Kai James There are many options to finance good, performing deals.

That's right it stands to reason why it helps to look at the larger picture and perform a analysis on the economy and the understanding the economics is is just a guessing game believe me I study economics Wharton School of Business:)                                                                                                                       Have a great day

@Jake GoodwinMight be a good idea have someone you can call on to inspect the work being performed and verify loose ends you may be curious about.

They have failed to perform according to the contract so there should be no problems with you backing out unless you signed something that gives them as many free screw ups as they want. 

Go to local RE meet-up groups and read, read, read (real estate books, books on performing repairs, etc., and scour the posts and blog articles on BP - you will learn a lot in the coming months if you take the time to learn). 

There are lots out there run by full time professionals: multifamily, commercial, self storage, performing and non-performing note funds......

Owner may, on fifteen (15) days’ notice to Contractor, terminate this Agreement before the completion of the Work, and without prejudice to any other remedy Owner may have when Contractor defaults in the performance of any provision of this Agreement, or fails to carry out performance of the Work in accordance with the provisions of the Contract Documents.

@Andre Kimbrough yes me and my partners buy apartment buildings that are under performing, then stabilize them refinance and move on to the next. 

I've never done it before so I'm looking for any advice or due diligence actions that would need to be performed before moving forward.

Being a distressed seller during a downturn is not where you want to be Be more conservative underwriting – multifamily properties are priced based off their current financial performance only.