So should I start with fix and flips and just pay someone with part of the first loan to oversee the first project, and then use profits from there on out to pay someone until i leave my job?

CapEx is included, but is considerably lower because it's a very new, excellent condition property (I considered things such as paint, appliances, flooring that would be needed while we still own the property).Purchase Price $350,000Purchase Closing Costs $1,300Total Project Cost $351,300ARV $350,000Down Payment $12,250Loan Amount $337,750Amortized for 30 yearsLoan Interest Rate 4.6%Monthly P&I $1,731.46Total Cash Needed $13,550.002% Rule 0.85%Initial Equity $12,250Monthly Income ($1500 per unit) $3,000 Monthly Expenses (Including CapEx) $2,607 Monthly Cashflow $392 Pro Forma Cap 7.28% Total Cash Needed $13,550.00Cash on Cash ROI 34.73% Purchase Cap Rate 7.28%Est Vacancy $150PMI $200Est CapEx $63Insurance $80P&I $1,731.46My only major concern is that I'm not meeting the 2% rule (and just short of 1%, even), but this is probably the closest property I've seen, and has a significant cash on cash ROI.

Some may call expecting appreciation in that market speculation but it is high probability, educated speculation which to me makes it investing.I would also point out that cash flow projections are also projections. 

I also have a 9 year background in construction in various aspects; estimating, project management, project controls, etc.I am here to learn, grow, and help.

@Joe Garvin 73% is great...what are the lodging taxes like in your area.My wife and I are doing a mixed use project and building in 3 suites to be used as BnB...my expectation was 30% occupancy...which seems more in alignment with the BnB industry...is the high occupancy normal for you guys? 

The faster you foreclose the faster you get paid and the sooner you get to reinvest the money in to a new project.

This project is a revitalization of an old community center that has been out of service for many years.

It's hard to know if the article got the projection right quantitatively, but Indy has not been a growth market and so directionally that part looks correct.Macro-level, the drivers to to growth markets are population shifts that are ocurring and a lot of people in northern states/cities have relocated to TX, FL, GA, NC, etc. 

I just purchased my first property in Fayetteville, NC and it's going to be a huge project!

We could find ways to still have multiple projects going on even though this option would absorb more money.