How Much Should Contractors Get Paid? (Real Estate Investor Reality Check)

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How much should contractors get paid? Who’s getting ripped off? The contractor or the client? Should general contractors perform rental renovation work at investor prices? Can an entire rental unit be renovated for $15,000? Is that price a good deal on a tight budget? I discuss all this based on my perspective as a general contractor, real estate investor, licensed realtor, and civil engineer.