You can spell out all of the different scenarios that may occur in the operating agreement including splits and ownership.

This includes working with a knowledgeable agent familiar with your investment area, finding trustworthy local contractors for your projects, securing responsive insurance agents, partnering with investor-friendly title companies, and connecting with lenders offering suitable financing for your strategy.With your goals set and team in place, you should feel more confident in your approach.

The challenges include - Interest rates - that are as high as they have been in 20 years; property values - which have doubled and tripled in the past 3-5 years.  

I do appreciate that every REI property is different and have used many of the existing calculators to do the math, including Rent to Retirement (leaning towards using them) and that it is not easy to get instant thousands per month in cash flow.

Almost everyone here on BP will tell you that they wish they had started earlier, myself included.4.

That includes real estate agent, title preferably owned by attorney, seasoned STR property manager etc. 

Now, here's one important point I've learned over the past 7 years - never do business with ONLY  one bank (unless you are only buying a property or less per year) - you never know when the bank will lose their appetite for cash out refinancing or construction loans. 

Especially during the bear markets, basics are the most important KPI.Reduce the amount of personal cash in the deal.Ensure that the property can provide enough cashflow consistently to sustain itself Wait for the best time to sellNever, ever, nevereverever, put yourself in a position that forces you to sell at the worst possible time.

The definition of Appliance has been expanded to include any device provided to the tenant to cool the home, to include permanent or portable air conditioning units, swamp coolers etc. 

They were also able to provide new estimates on the work needing to be done including correcting everything the original contractor had done.My question is, should I pursue some sort of legal action or just never get into contact with said contractor again?