Cost associated with subcontractors (a general contractor subcontract the asphalt and earthwork job, and they charge 10% of the subcontractor price), plus compaction equipment and personnel, overhead and profit of the general contractor, insurances, etc.I would recommend taking in consideration adding costs such as permitting, storm water pollution prevention plan (fees, silt fence, straw bales, and such things), Engineering Services, any City or County fees for the projects, inspection and material testing costs?

Does this pass the logic test to you??

Anyone can apply with no experience and there is no test like other states.

It also resulted in what I refer to as a perfect job (i.e. floor boards that I likely would not have replaced were replaced, mold tests were performed post fix, etc.).  

You will need to get proper permits (perc tests for septic systems, etc.) and surveys. 

On November 1, Year 1, the critical test is complete, and N places the machine in service on the production line.

@Mike Greenberg talk with your agent ask them to send you as much information they can before they go look at it, ask for the list ticket, i use realtor.com, and i click on every tab on a listing im interested in, try to get closer to the 2% test as you can  and work those, i believe you can still find deals on the MLS

(It has not been tested though)  We are now seeing that because it is not our primary residence, that before we can do any work on the walls, we need to take a training course and possibly need some certifications.  

With your portfolio you can easily roll some of them through 1031 into multifamilys and test it out.

some will, some won't, it may be because during underwriting they are going to look into where you are living and if you own or rent, they will see that you just came off the loan and it won't pass a sniff test and they will want to count your current mortgage debt against you even though you aren't on it anymore.