If you do, don't put carpet in the basement until you are absolutely sure it's dry after heavy rains and use mold resistant dry

That opportunity actually came pretty quickly.Around that time, inventory was drying up both in their market (Phoenix) and my market (Atlanta).

ARV around 100k, needs a lot of work (lot's of wood rot), maybe 45k depending on what you want to do with it.

@Paul McComb would like to hear more details on your deals, many here on BP say Phoenix has dried up on deals and the very few deals out there become extremely investor competitive. 

He said they usually fix everything and bring equipment to dry the property but the landlord stated he had no insurance and wouldn't be paying for clean up.The landlord then came back with a wet/dry vac and did a half-*** job of cleaning up the remaining water.

If you do, you send the wrong message to the tenant and the security deposit fund is likely to run dry. 

I'd start thinking about using a GC if there are structural problems, wood rot, mechanical work, either plumbing or electrical, roof work, or more complicated carpentry such as hanging doors, repairing stairs and so on.

Also ( at least when I was doing things there 2000 to 2003) information that we can easily attain in the US is not nearly as easy.Defaults are very low and my experience being a lender is .. foreclosure is not nearly as cut and dry and it is here.. the courts have great latitude to adjust payments interest rates etc.. they will give the borrower a lot of leeway to try to rectify the situation...

Same question for dry wall and painting, grounds keeper, landscaping as owner occupant.5.

Lately on non residential commercial  the pricing has skyrocketed,  before there were properties coming out in the trustee arena, now those have dried up too.