Mistake #2.We got an inspector, he gave us the list of things needed fixing and seller wouldn’t fix the items I needed fixed at the minimum.

Additionally, if you are working with a good real estate agent, they can also share all of their contacts in the trades (handymen, plumbers, electricians, inspectors, etc), which will help shortcut processes, as you won't need to find all of these people in one trip.

I've got the Realtor, the Inspector, the traditional Lender for the cash out refi, a few thousand dollars, and a lot of optimism to step into the BRRRR game.My realtor and I have discussed the "fixer upper" homes in the area compared to the ones that actually sell and they generally range from $20,000 - $35,000 for something that could be fixed rather than burned down and the other "normal" properties that the fixer uppers compare to are going for as high as $70-$80,000. 

key off of what the contractor or inspector tells you. 

Once we have done this and finished the project the stained lumber has never been an issue with any of the inspectors.

As a MF owner/operator and past owner of a construction company I often see things in a different light than the inspectors do. 

A home inspector should be able to find the source of the problem.

However, the inspection turned up 4 major issues. 1) electrical needs service upgrade + there is knob-and-tube wiring to the 2nd floor.2) Chimney needs a flue + rebuild from the roof up.3) Inspector estimated 2-3 year life on roof.

I have also learned that you can ask county or city permit inspectors their experience with particular contractors.

Either way, my architect will also act as an on-site inspector to ensure the work is being done to spec.