Thinking this one is not right for me.  

If the market outlook for China is good, and you're not losing money, then HOLD, but if, as you say, you see a bit of a bubble forming, it would be good to know your options sooner rather than later.Sounds like you're in a pretty good spot (other than that negative flow NJ prop) and you're in the right place to get all the info you need to develop a plan.

So I decided to call my contractor who I knew for years who did several renovations for me on my personal residence.

How do things work in this scenario and should I form an LLC before pursuing? 

I think REI is the best path for me to take to increase my capital with passive income and short term goals, Long term investing is not something I want to start out with.

Going to be harder for a one-off build to do it because you won't be able to get the pricing on the trades that a full time builder gets.The only way it made for me is if I could get a 40k lot for say 15k.  

This post is less about what will work for me, although I am focusing in on flipping, and more just about hearing what others in the area are up to and working on.

I can't speak to NH laws but in Wisconsin we don't have recourse once we sign move-out inspection form.  

I also had to do 25% down instead of 20%, but that was also ok for me.  

I've done this many of times and it has worked for me.