I met the seller who does the occasional flip.... good to keep her number handy in case I am looking for something in the future... and apparently her dad has a small construction company, so thats handy if I need to possibly get a price on some repairs or remodelling that I don't want to tackle myself. 

I've a tenant moving out within the next few days and have a General Inspector lined up and also need to have contractors come in and give us bids for rehab, my question is for out of state investors: How do you stay on top of/manage projects being done without your supervision? 

Well, that and our funds are tied up in the final remodeling projects of our house.

Still trying to finish the rehab. sometimes it seems the big projects are easier jobs for me to complete  than the little jobs.

If you are renting all three units, based on the numbers in your projections, the CAP and ROI are so low I don't think it makes a good investment.

I have a ton of construction experience and contractor management experience for multi-million dollar projects if that counts for anything (My W2 job is a project manager for a huge general contractor).Does anyone have a piece of advice for me regarding funding my first flip?

I have had internships as a construction project engineer in Manhattan working on luxury hotels and in Newark, DE working on a dormitory. 

I've viewed quite a few homes and, barring some distressed properties that are too big a project for me, only one has really piqued my interest and seems to have some decent numbers to back it up.Still, small price to pay in my mind for getting to live here.

You might want to clarify if you are asking about the land value from the banks perspective or from the "business" perspective (ie if you were going to sell the project on the market). 

The property has about 1,500 SF of space that's not being used, so we're adding a business center/study/group project area, as well as a fitness center.