While it is possible to find the latter, keep a high guard up with your intuition to screen and pay attention to more details.  

Not to derail the convo at all, but would love to hear high level your thoughts on the Chattanooga market.

But some areas you can pay $12/ft for land because rents are high enough.

The product claims to be made with a high contents of recycled material.

Did they finish the job close to the timeline they proposed? 

The contractors I have spoken to are coming in high on the price, so I want to get some more comparative data before deciding.

I highly recommend creating procedures for them, either written or recorded.

Builder ends up screwing us over and we are out $250k which we are in the process of trying to get back.In the meantime, I'm trying to get a private or hard money loan to finish the buildsCurrent mortgage 273,000Rehab 1 - 150,000Rehab 2 - 150,000Current value for both places approx $350,000ARV $1,000,000 for bothPlan is to refinance and hold as STRI feel that these numbers are reasonable - am I missing something?

At a high level, your cost of capital is excellent, contributing to a projected IRR of +26%, which accounts for the time value of money.

The industrial inventory is surprisingly low and the demand is still quite high.