Perhaps you have coverage for the replacement value BUT the insurance company when calculating the replacement property uses modern building materials like drywall but your original house had plaster which is much more expensive.

I am planning on doing a flip or a build in Phoenix in the next one to two years.

And thank you for the advice.

Cash flow is definitely the biggest challenge; both in terms of finding properties to buy that cash flow with a loan on them and just company wide given interest rates and labor/material is up and, at least where I'm at in Jackson County, MO, taxes are way up too. 

We can produce building material here.

S&P500 index is propped up by about 7 companies that make no material value with P/E ratios of about 3% for the market average.

However if you aren't doing mass scale, we definitely suggest letting the contractor handle material purchasing.As long as the client has all of the materials at the jobsite, place them where they go, they are all the correct type/fit and there are all of the misc parts (adapters/special hardware/etc) needed to do the install.

@Bryson Ragsdale search "house hacking biggerpockets" in spotify or the Podcast app and that should bring up the ones that talk about house hacking!

We plan on living in the house and doing most of the fixes and renovations ourselves.

A member of the association who is not on the board would probably not even know if they were selling.