If you are a general contractor managing the entire project, you need a general contractor’s license, particularly for projects involving permits.Lien WaiverA lien waiver is a legal document signed by your contractor to waive their right to file a lien against your property after they have been paid for their work.

While I haven't done new construction as an investor, I've been involved with them on the design and construction side. $15-$20,000 seems like a very small profit on a $500,000 house.

But, understand the cost involved.

For instance, if I buy a house 20% down, 5% closing prep costs where the rent matches the mortgage, interest and tax and assume a 5% rent growth and appreciation, I'm expecting an 11% total return which is just not good enough for the hassle involved. 

When QIs get involved There is generally already a realtor or two involved. 

I'm more involved with Instagram these days :PI'm currently stuck at the "pick your market" phase. 

As a bank will be involved I am trying to think of the best way to structure this. 

I taught myself Spanish, I already know the construction crews in the area, the realtors, the communities, the land, I have someone managing the property, I have a maintenance crew… I already did an incredible amount of the work involved in finding a deal and turning it around through reconstruction and proper management.

That mindset matters arguably more than anything else, because mindset crafts reality. 

In the cities the government got involved in housing and low income housing was built for poor people.