I worked with developers and contractors for many years and the best way I saw this type of situation proceed was for the individual to partner with a mass homebuilder - depends on how big the property is - and also partner with a GC to install the infrastructure to the specs of the homebuilder.

She owns a PM company and she is also a licensed contractor because she was tired of GC's ripping her off. 

However, these properties generally have a lot of land improvements that qualify as well as certain portions of electrical, mechanical and plumbing that can qualify.

Sometimes the contractor will put a % on the top of the materials to source it.2) what's your range for remodeling a bathroom?

You may want to work with an experienced contractor and/or other experts who have done this in the past.Disclaimer: While I’m a licensed attorney, I’m not your attorney.

Confirm that the warranty applies to the type of property you own and consider whether the annual cost and service call fees make sense compared to just handling repairs yourself or using your own trusted contractors.

I wondered about using your own vendors, here's what I found:"Currently, you cannot directly add your own contractors to Lula's network.

It does not take that many hours to look at a property, sign a contract or even manage tenants.If you are bored in your 9-5 it's time to move on to a job where you learn and get challenged so you can grow.

Large basement and attic space, new roof and some of the kitchen is already torn out from the current owner. one bedroom does have a closet that will need built. plumbing seems fine, maybe a couple angle stops to change.

many houses in the midwest, for example, are very old and need major rehabs.i personally think out of state investing is more difficult than advertised, and much more difficult in the current investing environment, with: prices high; interest rates high; tremendous demand for inventory, by both investors and retail buyers; and good PMs, contractors, etc. booked up.here's a really thoughtful thread with the experience of another CA investor and lots of different responses:https://www.biggerpockets.com/forums/12/topics/1215726-break...and here are some threads about how it can very easily go wrong:https://www.biggerpockets.com/forums/48/topics/1159104-overl...https://www.biggerpockets.com/forums/963/topics/1195280-expe...https://www.biggerpockets.com/forums/48/topics/1160450-run-i...https://www.biggerpockets.com/forums/48/topics/1137397-balti...finally, you also said you "don't have a lot of money to start with."