Your primary insurance policy with $300,000 in liability coverage should be sufficient in 99.999% of all lawsuits.5.

We organized three core workstreams.

I reached the lease signing stage with potential tenants, but we hit a snag regarding the three-vehicle restriction.They own a construction company and currently keep all their vehicles at home.

That is how I would treat these, you have these and then three others working for you.

With single-family homes, the issues are different, you carry the full burden of maintenance, so the physical condition of the house, along with any municipal violations, becomes a much bigger factor.In the end, for me it always comes down to three essential considerations before bidding: understanding the market conditions surrounding the property, knowing which liens or debts you would inherit, and being clear about the physical condition of the property and the repair costs you might be facing.

Calling for a friend:I’m in the process of converting an old house in Delaware County, NY, into three apartments and a small commercial space.

I bought a floor AC Unit from Lowes and took it over for them to use for the three days it took to for them get someone out to repair the AC.

All three cities have strong pockets for small multis if you know where to look.

The opportunity: Tighten operations around three levers—Cost, Time, and Revenue—while de-risking each flip with disciplined underwriting and execution.1) Cost: Tame Labor & Materials Without Gutting QualityValue-engineer the scopePrioritize visible ROI items: paint, flooring, lighting, curb appeal, kitchens/baths (surface updates > layout changes).Replace, don’t relocate: keep plumbing and electrical in place when possible.Use finish tiers (Economy / Mid / Premium) per neighborhood comp set; avoid over-improvement.Lock pricing earlyGet three-bid packages per trade with identical scopes, photos, and SKUs.Negotiate 30–60 day price locks on materials; ask for bulk-buy or “contractor pack” discounts.Use allowances (e.g., $2.50/sf flooring) with pre-approved SKU lists to control change orders.Build a dependable labor benchMaintain a preferred-vendor roster (primary + backup) for each trade.Offer fast pay terms (e.g., net-7 on verified milestones) in exchange for pricing and priority.Test small jobs first; promote trades to your A-list only after on-time, on-budget performance twice.Standardize to reduce wasteCreate repeatable finish schedules (same trim profile, faucet line, paint palette) so crews work faster and leftovers are reusable.Pre-kit jobs: one delivery per room (box includes all hardware, fixtures, and consumables).Contracting disciplineUse fixed-scope, milestone-based contracts with:Progress draws tied to inspections/photosNo deposit or minimal mobilizationLien waivers at each drawDaily liquidated damages for missed deadlines (after grace period)Written change order policy with price + time impact before work proceeds2) Time: Move Faster to Reduce Carry and RiskFront-load planningWalk the property with all key trades before closing; finalize scope, bids, and schedule ahead of day 1.Pull permits early; choose scopes that avoid structural or major MEP reroutes when timelines matter.Sequencing & overlapSchedule parallel workstreams (e.g., exterior/landscaping while interior demo proceeds).Use a Gantt chart (even a simple spreadsheet) to track trade start/finish, dependencies, and buffers.Daily control15-minute stand-up with GC or project lead each morning (photos + punch list).Two inspections/week: one quality, one progress vs. schedule.Keep critical spares on hand (breakers, valves, GFCIs, common trim, extra boxes of flooring).Tech + templatesSimple tools (Google Drive + shared photo folders, or apps like Buildertrend/Jobber) for scope sheets, punch lists, and photo proof.Use QR codes in rooms linking to the finish schedule for fewer “what goes here?”

Quote from @James McGovern: Last three properties all had inspections where the reports contained information to spook buyers and never referenced a single code being violated.