The $35k 1 month project turned into almost 4 months because of poor coordination on the lead-times for the materials that could've been ordered beforehand and flakey contractors not showing up/ working half days.

I’m not familiar with any programs using section 8 for hotel rooms but my guess would be that unless the rooms have kitchens it could be a tough sell.

Buying my materials with my commission and putting in sweat equity at night with my new found contracting skills.

The construction aspect was a challenge with the cost of materials at an all time high.

@Tony Zhang it’s a tough question to answer without knowing more details.We almost never have units sit for 3 months with a couple exceptions.

This still feels like a tough decision for us!

Usually in Texas the foreclosure attorneys have made not only reasonable efforts, but maybe even extraordinary efforts to find the previous owner and reach out to them several times before foreclosure and even offer them options, like payment plans.Plan #1 is I think tough to accomplish due to title insurance issues.Plan #2...if you reno and previous owner redeems, they are not required to pay for the reno costs....sure everyone will tell you they never redeem, but as soon as you make a nice house on the property or reno what is there, fate means they will redeem. 

Is their a price escalation clause in the contract due to material cost?

Tough to get someone on the line.

Starting fresh can be tough at first, but you'll probably be better off for it.