I found the cost to be to high to make sense especially since we would need a GC to mange it (we directly manage our local construction projects)

In commercial projects this may be paid quarterly or annually.

I would like to get into some wholesale projects.  

For higher end finishing we've been in the $200-$250 per SF range on previous historic restoration projects when keeping the original structure & character of the property.

I have done a lot of analysis on MLS listings including the more detailed Frank Gallinelli version of using NOI and cash flow to derive IRR and shortlisted 4 multifamily units from 100s that I looked through that I want to pursue and which offer a good COC and cash flow per unit.

Look for people doing large rehab project (large 30 yard dumpsters are a dead giveaway).

I'm not sure what the market is like where you are but I was able to buy my first flip for 38k, borrowed the purchase from a friends Dad and the 2 of us took on the project.

Allowed a two month project to yield a profit over $20,000.

We're finally in the final stretch of project #2.  

I watched a video where the person doing a rental analysis said that it was only important for commercial properties.