Being upfront with clients and highlighting your strengths—like your market knowledge and dedication—can help minimize the impact of transportation issues.If you're concerned about the costs, maybe focus on building a client base close to home, where transportation won't be as big of an issue.

My main concern is regarding cost-basis and future capital gains tax when I ultimately sale the property. 

You should prob. consider hiring a PM to help manage since one of the owners lives 3+ hours away. 

I'd like to agree with him on a price and pay for the rehab and all of the costs and then sell it for him where he would take the agreed upon price and I would take the profit. 

I am interested in searching for such units within wake county is there any way we can put together a meeting to discuss the overall cost of such an investment considering my VA benefits?

All of my properties in Pittsburgh have, so far, weirdly, cost money to purchase.  

Once all of the above is known, and you have a preliminary site plan showing how many lots (and the size of lots) are available, you can start putting together numbers on the cost of the whole project.

My area of specialty has been in condos, and my wife and I do all our own property management.

This has driven up property prices and job opportunities.I can send you a list of contacts in Ohio to help you build your team, including property managers.

They will make an exception if for example my all in cost was 60k.