It is a measurement of the amount of return the investor gets on the money he or she invest.  

Since NPV and IRR analysis are both found using free cash flows, you should model them in the same way as you measure CoC.

This past Wednesday, I told her my contractor and I will be walking through to take measurements of the place (She already moved out)  I told her I have a key and its up to her if she wants to be there.  

Let's talk guidelines and some property evaluation metrics and  what they measure. 

Miss that date and there is no corrective measure and the exchange is DOA.Right now I'm doing an exchange, and of course I'm looking for a superior property. 

One extra measure of protection I very often take is, depending on how bad their credit score is, I take extra deposit (an extra half a month, sometimes whole).

From a cost stand point in measuring returns, it does matter (all costs are not equal).  

The coursework taught me obscure laws and weird measuring techniques that will almost never come up in real life.

Try to quantify it, then measure that against the increased ROI (assuming there's an increase).  

If I was the OP, I would get 1 secretary per 3-5 projects, have a small 5-10 page operations manual, that will cover scoping, bid soliciting, contracts, and punchlist. pretty much after your 10th flip, you will get your price points already, so just measuring and scoping is the hard part to learn, everything should trickle down feom there.