Material participation hours by default do need to be for each property separately. 

It's more predatory than solution driven.

If someone has REPS then potentially they can use all of their rental losses, from all properties, (there is more nuance especially with both LTR/STR) if they are materially participating. 

Licensed contractors supply materials and subsequently warranties.Also how would a flipper comply with assembly bill 968 if they supply materials? 

Material cost is likely to increase.  

Sales prices on previous built cabins are going to be driven a lot by revenue.

But as someone who’s been in the trenches of real estate investing for almost 30 years, I continue to see some flaws.Some of the flaws I have witnessed are when tech-driven companies seem to lack backing from experienced underwriters or seasoned real estate professionals.

Wherever you took your broker's class you should have ample study materials.If you are talking about your real estate agent's license in NJ (that is not a broker's license), you need to take the initial class at an accredited agency and they will give you all of the materials after you finish the 75 hours for the test. 

You should go over with your GC - weekly updates on labor and materials spent, deadlines for each project.

I work with several real estate developers across the country and they all do it differently.My suggestion is to find a property type and an area/neighborhood/city/market that you are drawn to and plot your course from there.As for the amount of money you'll need, it's gonna be mostly driven off the purchase price of the property.