We have to stay on the contract or else HUD just puts the place back on the market and we lose our deposit and extension money.

It is sad to see how little some people care for their homes, but good for contractors and investors that know what they are doing.Best of luck on your next project.

Today I took a contractor out and the property needs around 8K in foundation repairs, the back of the house is sinking but the gc said it was not a problem.

It requires the ability to find good deals, build a team of excellent contractors, manage costs, etc, and to do it for a living you have to be able to replicate the process over and over again.

It was an emergency and needed to be dealt with quickly.Nowadays I either do the work myself or have a contractor - handy man that I can call.

At least one by a contractor.

For the experienced investors, which strategy works best, using an assignment contract or a double close?

I would say your commitment to serve has demonstrated that you already have the capacity to make personal sacrifices that most of us don't.You do need to account for times you are deployed or can't respond to emergencies, either via a PM or trusted contractor though.

Why you want to make sure you are vetting Contractor's and Sub-contractors not only credentials but also their surety bond, liability insurance (which is different from a surety bond), workers compensation insurance.

A good company will also have a network of reliable licensed contractors that can rehab cheap investment properties for you.