Even though we draw $5-7,000 in cash off of it for living expenses a month.  

Most will place into an escrow account and reimburse you on draws as you complete work.Here is a recent example on a property we did with this method; we bought a 21 unit apartment building for 295k.

The redemption price is the amount paid for the tax deed at the tax sale plus any taxes subsequently paid by the tax deed purchaser plus 20% of that amount for the first year or fraction of a year elapsing between the date of the sale and the date of redemption.

My Property management company is going to be over seeing the project and inspecting the work per draw periods.  

Go back to the drawing board, assess YOUR life and YOUR goals, and if the Misses is not a good fit, well, you know the answer.

The inspector went through the details of how the draws will work.

Currently conducting real-time budget and progress tracking of construction with full reporting and draw requests to lender.

Currently tracking budget and progress of construction with full reporting and draw requests to lender.

How quickly are draws paid?

You're currently at the amusement park but rather than testing out the rides, you're at the wimpy picnic tables drawing up diagrams on what ride would be most fun...or calculating how the machines are built.