Had I sold it at $450k, we probably would have made around $5k/ea but instead we ended up having to sit on it for about a year, and sold it later for $410k, to the same buyer.  

Just because San Jose has done well before, may not mean it will later.

Do they need work and you can refi with better terms later?

Twenty years later that was a cable bill. 

So, if I wanted to sell for $100,000 but   later accepted $50,000, you're thinking you're lender would accept your negotiation skills as a 50% down payment?

So it doesn't hurt to start that process sooner than later.

After some pushing we finally got the signed and approved itemized bid along with the 25% deposit on Saturday ( 2 days before we start work...)later in the day they asked if we were licensed and bonded.

Hi Doug, curious to see how you are doing 9 months later and what you have learned.

@Kashiff Miles catch me at lunch today or give me a call later today and I will show you some of the things I used to build mine.

Gotta set your goal, it may change later as we go  along in the business.