I understand a fixer-upper would require a lot more work in accurately determining repair costs, finding good contractors, etc., but I think the learning experience would help set me up better for future deals.

Based on the local market, $15k for renovations seems light—have you had contractors confirm this budget? 

Looking for recommendations for a good General Contractor in the Norfolk, Virginia area.

If your landlord wants more rooms painted, I would tell him to hire a contractor and I pay 3200.You can roll two rooms in an afternoon and in the end it's only $100 and at least you have someone who seems somewhat flexible.

So the timeline is dependent on experience, amount of work, contractor trustworthiness and promptness, etc.

Do most people contact the PM, realtors, contractors in that area remotely or is it more ideal to fly there and meet people?

With the right agent, you'll learn how to run the numbers and establish a network of lenders, investors, other agents, contractors... 

One contractor was at the planning dept the other day who just got out of federal prison earlier this year.

(PS I'm sure you experienced folks have your contractors in line already but it never hurts to add another trusted one to the phone book, I'd love to send over our business cards and talk about how we could be of assistance to your team) Again thank you all for the help - Brennan 

Would like to network and share our contacts and experience with contractors, lenders, experience, etc.