My instinct is to get a second job because I know that'll bring in some cash but I also feel like it'll bring me farther from my dreams, if that makes sense.

Now you might be able to save some portion of this if you can gut and reuse some of what's already there but that will depend on its current structural condition. 

I purchased a 4-unit building gut rehab in Chicago, with a 203k loan.The contract had an “as is” addendum.My contractor applied for building permits with the City of Chicago building department.They were advised that the property has multiple injunctions against it, and was, in fact, in demolition court.This obstructed receipt of my permits, rehabbing my property, moving into it and receiving rents, as was my plan.Neither the seller, nor his real estate agent disclosed this information to me.If they had, I would not have purchased the building.The signed contract states under “General Provisions” Section “H” Code Violations:“Seller warrants that no notice from any city, village, or other governmental authority of a dwelling code violation that currently exists on the Property has been issued and received by Seller or Seller’s agent (“Code Violation Notice”) If a Code Violation Notice is received after the Acceptance Date an or before Closing, Seller shall promptly notify Buyer of the Notice.The Seller and his Agent both knew about these violations as the list of violations clearly correlates with his ownership of the building, but did not disclose this information to me.The “as is” addendum does not exempt the seller or his agent from notifying me of this material fact.This withholding of vital information violates the terms of our contract.Had I known this, I would not have purchased this building.The seller and his agent were both aware of this.Are there any legal remedies for me? 

We gutted everything out.

Not only were the numbers and dates not aligned with my objectives, but the instinct that I had on how motivated the buyer was ultimately made me reject the offer.

It's kind of a hybrid form of management.On the advice of several people in this thread and elsewhere, and on my own gut feeling, I've decided to go ahead and manage everything myself at least at the beginning for the first few properties.

Hi,What is a good estimate/rule of thumb to use to estimate a major rehab, full gut job for a large home?

VacanciesI'm getting a gut feeling we're seeing seller's begin to flood the market (at least in Tampa Bay) and we're at the early stages of a Seller's Market Phase 2.

Since this thing will get gutted down to the studs and get all new electric, hvac, plumbing, drywall etc....I need help determining if I should go back with higher cost split system or put a bigger system in and either do zones for up and down temp control or no zones.  

Hi @Cristian Yepez if you can hire the right contractor that is approved to do 203k renovations that is a good option if the property  is not a complete gut for your first time.