-Do you have to wait to buy a second property or can you be buying the simultaneously?

The good thing is that all the site work is done simultaneously with the prefabricated units so no time is wasted. 

We would have a simultaneous close, so little money would actually be changing hands.

Since everyone knows about it, it's hard to lock up a property when others might just buy direct with their own cash.If you are writing offers as cash, quick close, and your main competition is with folks trying to buy with rehab loans, you probably have a fair chance.If you managed to lock in property deal and have a cash buyer ready, you can do a simultaneous closing using the cash buyer's money. 

both deals are happening almost simultaneously.

Would you do it again, but in a more local market - not running simultaneous, multi-state projects?

What I plan to do over the course of the next several years is automate my construction company to a point where I am no longer "Self Employed" but rather just a business owner, while simultaneously building my real estate investing business.  

@Nathan Letourneau - When you say "is it better to do 3 at once" are you speaking of doing 3 separate refi loans simultaneously?

Sometimes it helps to do a walkthrough with both an architect and a general contractor simultaneously because there is less room for error when drawing up plans. 

I simultaneously contracted a local agent to find me the tenants for half months fee so I could focus my time on adding value where I was good at it, the yard and driveway.