I have a background in the construction industry and have watched others do it but never felt comfortable putting my family in financial jeopardy by taking the risk.

Don't get emotionally involved with your own primary - FIRST, treat it as an investment!

Second, is the end payoff of the NLD (if there is a balloon involved).  

Thank you Chris , I would have to do something like this as the homes that are there now do not warrant repairing. too much time and money involved.

Here is my suggestion to get your fiancée involved. 

Keep us involved in how you're doing.

I have been involved with real estate investing since 2009.  

This is your deal, you get the majority of the potential reward so why should I take the risk that you miscalculated your comps and now have to sell at cost?

Plenty of other opportunities elsewhere, my clients are involved in institutional grade properties across the country.

For example, water heater install and there is no shut-off valve before the heater it cost $150 for a $20 part with 15 min of install.The challenge with doing a project (one that involves more than one trade-like kitchen or bathroom update) is there are usually holes in between what each contractor does and filling those holes is challenging.