The 5k car is going to demand at least DOUBLE the cost in order to get it up and running because of major mechanical problems that need addressing.

I agree that it is worthwhile having the license training if you are serious in the mechanics of investing in real estate.

The only other thing to think about would be whether the drop ceiling is there to provide access to mechanical or pipes that you may need to access down the line. 

The mechanics of the foreclosure process are irrelevant if it is not a realistic scenario.

You probably don’t have mechanics lien rights depending on the exact wording of CA state statutes, here you wouldn’t.As for going forward, hopefully the heirs will proceed with probate and you can get them to honor your agreement.BTW, if you don’t screw up once in a while it just means you aren’t doing anything.....carry on.

So, you drop your car off at the mechanic... they write down all you want done to it and you sign the 'work order'. 

Mechanics liens will get wiped out in foreclosure assuming they are behind the foreclosing entity.You ran a title search and were told its insurable...Still have the stomach for it?

Roof, floors, mechanical, etc...

They came out and did the inspection and found no issues and charged me $300.A week or two later I got a call from the Grand Rapids mechanical inspector asking me when he could schedule a time to come out and inspect the furnace and water heater.

How or what mechanism are you using (like a 1031 etc) that allows for the refinancing to be tax free.