Multiple quotes are needed for each phase of construction, which makes sense, to make sure the costs were not inflated.  

More than inflation? 

Either way, we are still at historic lows.If the govt. gets their proposed infrastructure plan approved, expect an already tight labor market to heat up, causing inflation and eventually Fed action.

In my opinion selling the deal off is easy (if you actually have a deal and not a typical inflated ARV, and useless rehab budget) as there are TONs of cash buyers out there (I am on wholesale lists with over 150 other "investors", and I imagine we are the second string, getting the duds their go to investors don't buy)

Is it Cash Flow, Appreciation, Neighborhood, Tax Deduction, Hedge Against Inflation?

Of course do your due diligence as some companies may try to inflate the numbers.

Love the post, and replies saying to expect 9% appreciation, but.... real estate historically has appreciated 3% or on pace with inflation.

That was 10 years ago, it is still a rental and appreciation, inflation and principle paydown have made it a winner, but not a slam dunk.

In almost every case these rents are greatly inflated to make the property more attractive.  

I read the article on inflation here yesterday and I gotta say it kind of freaked me out.One property in particular is not a super cash-flowing house (it is rented right now under market which I did to get tenants to sign a two year lease and live in it while I did a major major reno job on it).