@John Woodrich makes some very valid points. 

The numbers tell you to look at the assumptions to validate them for feasibility.

I was just mentioning that this question is probably valid for both type of investments.Thanks, once again.

This is investor-GC approach to control the cost as any overruns will eat up the profit:If you use a hands on type realtor they know what is wrong and what needs to be validated, what is fashionable and approx. low cost. 

A college student processed your loan and submitted to the bank with no validation(no doc appl).

I'm basically saying if we didn't retitle, we'll have a California LLC owing properties in other states.I'm exploring options to see validity, advantages and disadvantages.thanks guys!

Is it normal to get these properties under contract and tying the validity of the contract to the result of the inspection?

I wonder if at the moment of the closing date a buyer must have a valid insurance on a house for the sell to close in Ontario Canada?

Does the property have 2 gas and or electric meters?

Is there any validity to this and how soon do you think I could get everything.