Margins aren't high enough.

Buy low and Sell high.  

Long-term fixed rate debt and quality location --> going back to the very basic !

- How do you know the quality of their work will meet your expectations?

Purpose is for a high end coliving project.

I enjoyed the process, but rates are very high right now. 

However since the purchase is high, mortgage on a 7.12% interest rate for 30yr rate plus HO insurance etc is about $4300 a month. should I follow that 25% rule or not.

I did a quick search in your general area and found this listing in Lambertville (not right next door for you):https://www.redfin.com/NJ/Lambertville/92-Swan-St-08530/home...Take note that they bought it for $197,000 in January and now have it listed for $499,000 - which might be kind of high, but gives you an idea of what a flip looks like in your area.

Overall, the combination of a thriving economy, vibrant downtown, and natural amenities makes Greenville a highly desirable place to live, driving up demand for housing and contributing to its sustained growth.Could the Upstate of South Carolina be the place for you to invest?

Since then I came across Grant Kemp & Dan Diaz and they've solidified my Sub2 & OF skills.Learning from a mentor hands on it the best way but if you can't find one I highly recommend Grant and Dan's course and that you follow them on FB & Youtube.GL and Best Wishes,Chavel