I'm looking at a building for redevelopment into affordable/workforce housing. at the 30,000 ft view, the building seems to be an appropriate pick with elevator, exit stairwells, ample parking, location, and straightforward rough layout to put 24 cookie cutter apartments in it.

The contractor must have the appropriate certifications, experience, references, best value, etc and be insured.#1 Is the "I am going to stick my head in the sand and play the victim role if something goes wrong." plan. #2 Is somewhat better if your municipality registers contractors, but it is outsourcing the due diligence you should be doing. #3 Is actually doing your homework to ensure your contractor is properly skilled, certified, etc; you are protected by a bond or insurance and you have checked the contractor's references to know he/she is a 4+ star contractor.Only you can decide how much risk you are willing to take to get what might be a below market rate.

Will you remove/scrap all of the old failing caulk and surface, clean the surface properly, buy and use a decent/superior caulk for the location, apply it when the weather conditions are appropriate, and perhaps paint/seal if the location and materials call for it? 

I am trying to use my LLC when its appropriate and if it helps me ill use it, but Ill take any refi at this point with this property to get it off my plate.  

The cost for electrical is really in upgrading the panel in order to address the mast thats not at the appropriate height from the roof.

I recently just got my RE license here in California and I've heard there are some discrepancies with wholesaling if you have a license.Want to ask any wholesalers out there that also carry a license, what is the appropriate approach or legal approach to correctly wholesale.Do you still tell sellers you are an investor and you will pay for the house cash?

You didnt cancel in the appropriate amount of time.

The deciding factors in which strategy we use are determined by what the homeowner is open to doing, what am I looking to do, and of course the numbers in the deal and what do they suggest is an appropriate approach.Regarding your questions:1)  I'm not opposed to remaining in the middle of a deal. 

Hello, when is considered an appropriate time to open an LLC for your rental property portfolio?

You may also to be able to go after damages like environmental damage, rehabilitation of the property, etc.