Also, I found 2 ideologies regarding such development projects: Use one GC for the entire development or use that GC only for crucial trades such as foundation, framing, roofing , external siding, etc. and use sub contractors for finish and interior work to reduce cost.

@Lexi Blocksom suggest you discuss in detail with @Russell BrazilYou've made a mistake thousands of naive investors have made - expecting Class A results from Class C & D properties:( In general, you'd want to compare what you can sell the property for now versus what it would cost to update it and what you could then sell it for.

Whether to build on your lots now or wait depends on a few things: construction costs, rental demand, and your financing options.

- Run your numbers (including all operating costs including property mgmt) based on current rents in AS IS condition and renovated.

Its just hard to be good when they're chasing margin and keeping OH costs and personnel costs low.

The land is on two tax lots so my plan is to sell the extra lot immediately after closing for a projected $275K.The property on the other lot will be a fix and flip with projected costs of $240K and an ARV of $750K.I plan to use a PML of 2 points and 12% APY for 70% of the total cost.

My biggest mistakes that have cost me dearly have all been contractor related, so my advice would be to vet your contractors as much as possible. 

If you treat this like a hobby, it will eventually cost you a lot more than you want to pay.

In addition to property sourcing, I require an agent who can negotiate effectively on my behalf, ensuring I secure the best possible deals.If you have experience in identifying distressed properties or working with real estate investors in Florida, I would love to connect.

I don't know any builders here, so I am wondering a few things: - Does anyone have a builder that would be interested in doing a single infill project (there is another infill lot going up on the street, might try and connect with them) - I am in between paying for it myself with cash during construction (maybe the home will cost 150-200k to build?)