Besides putting together the best SOW using accurate/actual quotes as @Peter Mckernan and @Alan Asriants commented above, another key aspect is tracking expenses (bookkeeping) and monitoring the budget throughout the project. 

I recommend you budget 5% of the gross rent (for the whole place, even what the rent would be if you were living in it as a tenant) for repairs and 5% for capital expenditures.

The financing will then dictate which markets are and aren't within your budget.

It's calculated as the ratio of your total loan amount (loan amount for purchase + loan amount for your rehab) to your total costs (purchase price + rehab budget). 95% is a good target.Avoid application and other upfront/junk fees. 

Eliminate debt, establish a budget, and save.

Perhaps a modular home could fit the budget. 

Partner Driven financed the Main St deal by covering 100% of the $20,000 purchase price and $45,000 renovation budget, ensuring Amanda Frecks could focus entirely on project execution without the stress of upfront expenses.

I spend majority of my time in central and North Jersey.  

Ensure you increase the budget.

Moral of the story and my personal take away from doing it, budget well and don't spend your money on liabilities (primary home)  and buy assets (rental property).....