The best thing to do would be to consult an attorney, but likely, that is not an option for everyone starting out.I'm not an attorney, and this is not legal advice, but some of the information that we include in our contracts is:- A clear scope of work - Payment schedule / Milestones- Change order approval process- Allowances for finished materials- Reasons to terminate the contract- Expectations for start date (X amount of time after final plans /permits are received or X amount of time after the contract is executed)- General schedule and timeline (This is where you could specify an end date - however it may be better use incentives rather than liquidated damage if your general contractor is late - we've done both, but found General Contractors respond better to getting something if they get done early instead of being punished for being late. 

Once I hire a GC and they start their work, I need a Builder’s Risk policy with a “Theft & Mischievous Damage” rider or a “Special Form” policy.

.: She is trying to hold you hostage, hoping you will let her go without penalty.I would give her a written notice that she is responsible for rent until a new tenant takes over or her lease ends, and she must maintain the home and prevent any damage.

If the walls were damaged enough to require patches as opposed to just filling small holes or if an entire wall or the room needed to be repainted entirely then I would charge for that.

What strategies do you use to build strong relationships with private money lenders, and how have these connections influenced your investment success?

What factors influence your decision—profit margins, market demand, or investment strategy?

You don't have to worry about damage to the equipment or it being stolen.But if you do decide to buy the equipment, there is a good chance that it will be eligible for bonus depreciation and potentially 179 expense depending on your net income.

This scenario requires a confluence of events:- Significantly Negative CF- Insufficient reserves relative to negative CF- Overpaying OR Market DeclineThe personal guarantee just opens the door to the damage from the above situation overrunning everything.

Had a VRBO guest do damages. 

But the city has risks too: historic tanneries, dry cleaners, gas stations, garages, workshops, any kind of industrial use - always be suspicious of what people did with chemicals back in the 50s and 60s when the general population had no awareness of the damage