Some won't even mention foundation/leveling issues on their estimates, yet the house flooring looks like a bow.I'm not here to say I know it all, but that's my 2¢Tell me the area you're looking to buy, and if I see something I'll let you know.

I think more important than the term you use is your comfort level with what you're doing and talking about it with the investors.

As well as where everyone gets amazing deals on bulk materials(lumber, flooring, furniture and other fixtures.)We'll be handling telecommunications(phone systems, fiber optics/cat5 cabling, video and networking infrastructure)in house, but anything else you think might be missing from my list or any other advice you want to throw my way would be appreciated!

I suppose if you had a RE license and were up front with sellers that you never intend to buy their property and only intended to tie up their property while marketing it at a higher price to other buyers then you may be on the level. 

I wouldn't be holding my breath on Fredrickstead coming close to the level of cruise ships that Charlotte Amalie brings in anytime soon either despite the steps they have made on the tourism front.I would feel much more comfortable counting on Hovensa and the potential telecom hub bringing jobs to STX though (eventually), and I do think it has the potential to be a great opportunity for single-family home investors.

Considering the Cleveland market has been rebounding at a considerable pace, much of the country is also trending upward, in some cases and in certain areas of the country on the west coast as well as the east coast we are seeing pricing exceed market crash levels.

Your capital is unbelievably valuable, and right now you're not getting a great return on it.Normally I think I'd vote for you selling and rolling that into 25% down on a nice apartment building, but with your experience level I worry that could be a tough transition.But just remember before you go with a cash out refi or HELOC to calculate not just your return on cash, but also your Return on Equity.

Depends on the jurisdiction, inspector, and level of rehab you're doing.  

However, what recommendations do people have in terms of finding out about more macro-level information about certain cities and areas?

You will need to get a flood elevation certificate to determine if the 4plex was grandfathered in to a lower rate, if you will need to pay a higher rate, or if the 4plex is above the base flood elevation level.