Rehabbing from out of state
Hey, BP'ers. I need some advice.
I'm in contract for some units within a community. Each building within the community is a row of 6 attached townhouses, all identical with the exception of the end-units only sharing 1 wall, while the other share 2. The interior layouts are pretty much all the same.
I'm not quite done with inspections yet, so I don't know the condition of the electrical and mechanicals, but I do know the that the interiors all need updating (floors, cabinets, counters, sinks, paint, etc.)
The problem is is that I'm out of state. How would suggest I manage the rehab? A couple of options that I can think of, but please feel free to suggest others.
1) My local PM who will manage this property has an in-house maintenance crew. He says he can use them for cabinets, floors, etc, and then subs-out trades (hvac, electrical, plumbing, etc.) We have a good working relationship, and they have my trust, but it's a relatively smalls shop and I haven't worked with them that long, much less used them to rehab.
2) Find a GC myself, and pay my PM to oversee the project.
3) Ask the PM to sub-out all of the work to specialists, and have them to act as GC.
or some combination of the above.
Advice and experiences would be appreciated.
Thanks!
James