My plan going into buying this duplex was to get forced equity from updating his side and performing updates to the exterior of the building and landscaping, then when the time is right using equity to buy another home.  

U can also get a list of recent low dollar solds and drive by to see how the contractor is performing.

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator.So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean?

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator.So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean?

If we are performing a major renovation, the Owner is required to sign the vendor's contract, and provide full payment to us prior to the start of work.

Just keep in mind, that should be money invested in a passive investment, for example a performing note or a JV/Fund investment.

Meaning a 12% return may be under-performing for your market. 

Perform the calculations as to what the monthly payments is, and see if the spread is large enough to turn a profit.

Paint, roof patches, not much rehab on this one.

Since it's currently my wife and I.One note, if my subs are hired by an owner and not me, I cannot bind them to my contract or make sure they perform, which I think is part of the USP of a general contractor.Side note: I also plan on having signs posted on all project sites that state that no materialmen's lein can be taken on the project, as well as contractual language to support this.