Due to recent building code changes, you can build a framed building up to 4 stories on a slab, which significantly reduces the overall cost of new construction.

Off-market, agent-listed, or are you networking with other investors who have deals lined up?

I am your Upstate NY expert/ connect to help you get started up here in the great ol' area of Upstate NY!

I hit up a local wine distributor and pickup wine boxes (wooden ones) they give away to anyone who wants them.

You will have to verify those yourselves to ensure you end up with correct operating expenses.Quote from @Andrew Newcomb: Just following up on this in case anyone is still following:I learned about "cap rate" and "cash on cash" metrics in the BP learning articles and watched a couple vids on the BP rental calculator showing how it calcs those metrics for a prop (you have to add the details like loan info, expenses, etc). very cool tool.

Sit down with your contractor and write up a quick timeline. 

It's a good idea to always line up and get started early so you have options!

But it turned out, it was his roommate (who moved in without telling me, but turned out to be a good tenant) that was doing the cleaning up.

Local PM here - we have multiple development projects we are gearing up to sell, both small multifamily and townhouses should you want to take a peak at them.

He's had two successful flips so far and after this third one he's looking to pay off the HELOC and roll the profits into his future flips.