The issue why most wives don't like this strategy is because they have to move into an ugly home that will be a construction zone for the near future and they have a hard time looking past that.

In Jersey City rent control only applies to older building that are 5 units or more not new construction.

He may know some GCs so I'll reach out- but meantime if you need an inspector you can trust for before, during or after construction, he's a Godsend. 

BUT, I am sick living in construction and would like to move to a new home and then finish fliping and sell or hold the two homes asap.

By paying off the land loan through the new construction, it removes that lien and allows the construction loan to move into 1st position.   

While every project is unique, the basics he highlighted are essential parts of any construction contract.

Hey @Chi Lo - I actually have a video on my YouTube page about this (lookup ClosedByMo on YouTube).Regarding walls being damp and waterproofed, it means there needs to be waterproofing on the basement retainer walls (this is something you can do post-construction and the contractors would need to dig around the house exposing the basement/foundation to apply the waterproofing). 

My name is Chad, I am a renovation construction PM professionally, currently starting a search to find/ invest in some Indianapolis and local area fix and flip projects.

These larger construction companies are able to do up to 25 projects at a time and even have in-house project managers.

Of course, not recording the deed means it is does not provided constructive notice of the conveyance to third parties so their interest (the 3rd party's) may have priority over the grantee's, even if the 3rd party's interest arises after the conveyance, and surprisingly, even if the 3rd party's interest is also unrecorded.