I currently live in Southern Maine and am looking to construct some kind of new project rather getting into rehabbing existing residentialProposed Land Budget 100-200kConstruction Budget: 400kAll in 500-600k.I have found that if I do the site work myself including clearing, septic and digging the foundation is that i can sub contract out either steel or a Lester style building (50x150) for around 300k installed with insulation and power , divided into three 2500 square foot units. 

If you are looking to be an investor then I would suggest you don't be an agent that is a poor mans game and it will make it way more difficult to find deals. 

In 2003, while working in corporate America someone suggested Rich Dad Poor Dad to me.

I allocated $500/month for insurance which is part of why such a promising revenue to cost projects such poor COC.  

On paper some of these buildings had amazing metrics, excellent cash on cash returns, cap rates, etc, but when I looked at the buildings I found the neighborhoods were rough, there was poor management in place, there was lots of deferred maintenance to address.

However, poor operations, poor financial assumptions, poor finance structure, or a combination thereof can quickly turn a great deal on paper from hero to zero.

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

Rebranding properties with poor reputations can also be a valuable strategy to attract new tenants.By implementing these strategies, you can lower expenses, increase efficiency, and ultimately boost your property's income.

@Sean Gallagher not a sales pitch, but this is what we provide for investors in Metro Detroit:)Understand that if you hire the latest & greatest PMC, many grow using poorly trained VA's. - Your portfolio will suffer:(You want a PMC that has great systems in place, including a great portal where you can keep tabs on eveything.You will also need to manage your PMC on a regular basis.

We worry about the hassle of dealing with properties in poor condition and not building enough equity.