Market rate would be about $1600-$2,000 depending on condition.  2nd floor is old and run down looking, but overall ok.  2nd floor has an enclosed porch that is supported on metal beams but looks like it needs to be totally fixed, peeling paint, torn screens, rotting floor boards. 

Things will not be exactly like the timeline, but should not be that much different, if you hire a good contractor.That's all for now from my dried mind for staying up all night listening to the BP's podcasts.  

He mentioned that he likes to get permits for the electricals and plumbing but he has to hire somebody since he is not licensed in that area, but that he can pull out the license for dry walling and stuff.

Phoenix AZ inventory is very dry right now....and doesn't allow much margin. 

I know I am now moving to flipping as the best priced homes which make great rentals are drying up. 

One particular item was wood rot at the base of a corner post of the carport (basically like a built-on garage that was never closed in).

There are a couple properties I am currently looking at, but one appears to be killed by the fees associated with the bankruptcy trustee (I think this is the correct term) sale (over $23,000 on a 70k property), another one has water damage throughout and black mold, a different property has what appears to be foundation problems (the front is leaning outward and large cracks) as well as sealed siding which appears to be rotting under the tarred, fake brick layer, and knob and tube wiring.  

Inventory is drying up.

This should help protect your original investments.Builders typically have problems when leveraged and buyers dry up for a stretch of time and they don't have reserves to deal with the outflow.The question for you is not so much that you have a couple of not so great investments, it has more to do with how you are doing financially in other areas of your existence.

In our case, the stains disappear after the counter dries out thoroughly- several days to a week.