And if investing outside of your own backyard, make sure you understand the long term potential of that market in terms of migration, employment and infrastructure growth and have experienced and qualified boots on the ground to help, including an investor FOCUSED real estate licensee.Last but not least, keep in mind the Colorado Springs real estate market ranks 15th out of 50 top U.S. markets. :)All the best!

Schools, road infrastructure, building permits, and the land use plan current and in the future.The health of the county or city is important as projects for growth are often split out between a developer, the city or county, and the state for improvements.

Properties are then monitored in inventory (occupied, under renovation, listed, escrow) lots of moving parts to make it work.Thanks for the question,Jon

Monitor utility usage.

I finance with a local bank, that has historically been extremely easy for me to deal with when I have a property under contract and the numbers work.On to my question. while I am working on the details of this deal and trying to close within the next 30 days, I am also monitoring the MLS and other sources for potential deals.

How much time do you have to speak with the GC, go to the job site, check the receipts, monitor the expenses to see if you're still within budget, talk to the listing agent, etc?

If you build new, given what you have offered in your question, you will need someone to monitor the construction, this will most likely not be your agent.Also, keep in mind that building a house requires much different initial financing that buying a new home.

Actually have used it...and like you said...I have the same fear that subs may not want to adapt...maybe I try it along with a large monitor for chat...we'll see. 

We had nothing but problems with them and after 10 years of dealing with structures and infrastructures that old and dated we finally gave up and sold them just barely revisiting our initial capital investment.Older properties, especially like the one you're describing here, can be a total nightmare and gofer hole you just can't seem to fill up with a hose.

If my tenant gets mold, I deliver a humidistat ($9) so they can monitor humidity levels and do something about it.