@Marquez DavisNear impossible as hard money is for a year: what is your exit strategy ?

However, if circumstances do indeed change over the course of the loan, there shouldn't be a penalty involved if you move into the property down the line for unforseen / unintended reasons (such as maybe in a couple of years there is a family emergency requiring a need to temporarily move into one of your rental properties etc)

to be clear on my journey here. i am new to wholesale. this was my first cold call to a seller. the ARV is 2.5 to 2.6. i have some rental properties that i cash flow on currently.in my recent history of buying properties to flip, i keep getting outbid on off market deals.  

The time to build new might take you a year or likely more.

@Maria Putnam my focus has been tax sale for 20 years.

Although you can't look up criminal history, you can get landlord references from other landlords with whom they have worked.

Should I just purchase the property, run it for a year, gain some experience and then finish the basements later on?  

I ask this because upon looking around Zillow I found a "residential-single family" home that has 12 bedrooms and the description claims that all 12 rooms rent out and that it's already being filled for the upcoming college year.

Below is a picture from a tornado that hit one of our properties and another of a fire claim we had a year later.I'd look to find a reputable roofer that has experience with insurance claims.

About meI am a seasoned acquisitions manager for a wholesale/rehab company in Virginia with over 60 successful contracts just this year with an average profit of over $44k.