Additionally, you will have to strictly monitor the rehab budget as he comes across as the type who will overspend without any real thoughts of the consequences.50/50 may work here with you having the final say so over the decision making since it's your money and thus your risk.

The area around Brown University would be an exception to that, but unfortunately it wasn't worth maintaining an infrastructure to support an occasional deal.

Although if you wanted to sub-meter and then charge or monitor the usage you can do that but I don't see the benefit in that.

Keep getting bids and trying various contractors out..I like using plumbing contractor/electrical/carpenter/roof..that way your projects not tied to one person holding all the cards...I monitor my rehab closely.

Most lenders do monitor for early payoff.

What legal obligations exist for rentals regarding updated infrastructure requirements.At first blush I ponder the possibility of making this purchase at sub 35k.

I will partially take the blame because perhaps I should have been monitoring things more closely albeit I was in the middle of several other things across the country, but I felt as the realtor, that was his job.

I suggest typing "Atlanta" or whichever suburb you are interested in (its good to find a neighborhood that's convenient to you so that you can monitor your investment) in the search box and seeing what comes up.  

I live 100 miles away, so I am not there to closely monitor the property, but have given them notice (via email, text, facebook) that I will be coming to inspect the house- with no response.My question: Do they have to break something specific in our lease contract to be evicted-or can I start the eviction process after I've given them a 10 day notice to remove the truck and maintain the yard (that part is in our contract).Also, I am going to the property tomorrow to inspect, do I have the right to enter the property even though they have not responded to my 24 hour notice?

Monitor the legal news and have a subscription to the Foreclosure listing service.