I am finding some projects here and there.

My good friend, who has flipped four properties, noticed that I was interested in his projects and suggested that I check out BiggerPockets.  

As someone who likes to be conservative with projections in all other things I do, I totally understand the conservatism here.

Perhaps you can come back to this deal in a month or two and see if things change in your favor.You are a thorough Buyer and do very detailed analysis of your projects. 

Being a general contractor / project manager these days is very lucrative. 

I am thinking about purchasing a used skid steer and trailer this year for upcoming projects (possibly a truck as well). 

Anyone using Thumbtack to find contractors for one off projects?

Without looking deeper into numbers ( purchase price, ARV, potential expenses, cash on cash...) it's hard to see if the deal is worth the hassle.If this is your first deal as an investor I would say this is really bad and to complex project to take since you do not have to much experience.

I recently hired one for a house project and got his price per square, but when the roof was finished, he billed me for the total number of shingles used not the size of the house. 

If the lot value is $100K and the overall project cost is $1mil, I would ask for 15%.