Maybe, but unless they are actively involved in construction, it would be meaningless.An inspection contingency will often allow for you to get a contract in there for bids post inspection anyways, so you could start with just the inspection to buy time to get bids too.  

Purchase price: $65,000 Cash invested: $215,000 Sale price: $385,000 Contributors: David Ramirez, Bernardo Tancredi Completely gutted the property, practically a new construction.

I work in construction mgmt so I would constantly reel in the scope.Recommendations - get a really good property management company, start with a single family or at least separate meters, know the additional requirements on Cleveland landlords (yearly inspection fee, lead fee, etc) walk the house prior to buying.

Second floor can just use the front stairs, and first floor is unaffected - minus construction to be worried about.

I was wondering how a lender calculates the monthly tax escrow payment on a new construction.

Alternatively, get a construction loan from a local bank. this will allow you to subcontract out the work (as opposed to having to go through a licensed contractor for the fannie/freddie product).

I did borrow money over the purchase price to do some repairs but there wasn't a construction loan.

Just finishing up the construction and got my tenant in there last week (my mother).

I currently work in the construction industry and I am looking into starting my journey into real estate investing in the new year!

One offered the advice of getting a construction loan through a local bank to fund the rehab process.