Make sure to ask who will be the PM and super for your project and ask if you can meet them.Ask for a copy of their license, have a certificate of insurance sent to you buy their insurance company, ask who their binding company is and bond limit, check their history with licensing board.Next ask for several recent complete project references as well as several current project references and be sure to visit a couple of job sites as you can tell a lot about a GC by how they keep a job site.You also should request a copy of their contract and payment request/draw schedule. 

I have a question about accessing equity I have built over tie in rental properties I currently have in a buy and hold strategy.Background: I own four rental properties that I am interested in drawing equity from, and these have about 52% equity (about 48% serviced by debt).

In Metro Phoenix, especially, we continue to attract economic expansion, which boosts our economy and draws new residents at the rate of 200 per day.

I am using my HELOC and Bank of Mom for both properties from one seller.Pickering Ln: SFH purchase price $125,000Watterson St: Duplex purchase price $100,000Heloc contribution is $100,000 @ 3.5% interest onlyBank of Mom is $125,000 @ 3% One question I have is how to draw up "BOM" money.

If you are familiar with the market you should be able to have a general idea then pin point an offer price.

I don't want to draw any boundary lines, but that's our lead focus for now. 

I have heard some experienced investors draw up their own purchase contracts and just use an escrow company to close.

The other issue I have found is that the money for the improvements is only available after the improvements are made, but can be made in draws. 

Some will pre-fund the draws, others will reimburse the draws based on receipts and photos of the work done.All beginning flippers should use a broker such as myself.

Depending on your municipality, you will need drawings, permits and approval of use and c/o before you can rent out an additional unit.It's possible that your town/city does not allow 2-family units where your subject is located.You would be wise to go downtown and speak with the zoning officer and the licensing/permits inspector BEFORE you start any work.