The bucks running around with a cell phone and a truck are guaranteed to screw it up sooner or later because they don't know how to run a business.... they also get desperate and stupid and will sign contracts with iffy P&L ramifications.

I could be pumping gas for 1.35 an hour... 40 years later still slogging away.. lots of great moments and lots of not so great but all in all would not change a thing.. never have worked for anyone in my life done it all on my own.. the good and the bad.

Is it better to rent out my current residence to leave more capital in the game for purchasing additional investment properties while paying the possible capital gains/depreciation recapture later down the road? 

So I put a outrages offer of 10K not really thinking I would get the house, two days later the bank accepted the offer and I got stuck with the home. lol  The roof, porch, siding, and interior had to get gutted, at this point still getting worked on..

@Ralph Justiz I was laughing about how this was gaining traction so much later!

I personally want out, but I will take all of your advice for now and revisit that later. 

I figured if I was going to need that much cash up front it would be smarter to use a hard money lender then refinance the deal later to pay it off.

I called the court and they allowed her to reopen int for 18 days later.

Well you could buy a property with FHA loan; then your dad and you could fix it up while living in it & then 1 yr later sell it.There are plenty of other options out there and educating yourself is key.  

I mean, what if the contractor is long gone 8 years later and a header he installed falls and injures somebody.