. :)See how life is as a tenant, there are advantages, especially if you plan to travel.Start planning now, but I don't like the idea of selling performing and appreciating assets and then living off the money.

Personally, I'd try to find a successful rehabber in your area and offer to volunteer your time helping with project management or menial on-site tasks -- this way, you get to see the renovations first-hand, and if the rehabber is a good guy, he should be sharing his knowledge with you in return.

The agreement is made to transfer title after the buyer performs their obligations under the contract.

@James SyedIs the building performing?

Can't recall a seller disappearing, they may not answer calls.Two options; walk away or sue them for performance.

If the contractor doesn't perform do you have the capability to finish the project on your own?

The best performers are ultra short term strategies, such as statistical arbitrage (that what I do).

Has anyone used a "Performance Clause" with their contractor, whereby there is an incentive for finishing early and disincentive for finishing the repairs later than specified on the contract?

Another example, Glimcher is one of the leading performers among REIT's at the moment.

We will be requesting information on each of the residents, so that we may perform background checks...etc.