Check out my other posts if you want more info on that strategy.As for the house, you will have a tough time finding houses less then $300,000 relatively close to downtown and the major schools in the area.

Retail leases can have provisions, such as co-tenancy and exclusive use clauses that can materially impact your underwriting.

As other said, next time get an estimate up front so if the cost is high (look to see if it is because of material costs or labour) you can get a second quote.

Leo,starting out is tough to do, especially now with the massive increase in pricing.

So finding a good deal might be tough, but they're out there.

When I mean SRED, referring to similar to green building, that is correct, coming from Materials, energy efficiency, passive house design, envelope, water collection, SIPS or MODULAR, etc. 

They differ from market to market and also highly depend on what materials you are using.Get the numbers from your contractor, make sure he is licensed and insured, and make sure you have a clear order of operations.Agree to scheduled pay outs based on scheduled completion of work before hand.

I know the market is TOUGH right now, but I would highly suggest sticking with your criteria so that long-term, you have the right house to support your investment goals.

Offer them something in return, whether it's sweeping up job sites every day, picking up materials at Home Depot, marketing, or driving neighborhoods looking for off-market deals.

Just be aware of it and make sure not to jump ship when things get tough.