On the second project determine how many subsequent projects you expect to perform and decide if you want to learn how to manage the project (i.e. be the GC). 

All professionals who perform residential construction in NJ need to be licensed and carry proper insurance, including a ”handyman”.

Im looking at a portfolio acquisition and intending to perform through a step acquisition of the LLC as opposed to going through a traditional purchase.

We negotiated a good price after previous buyer failed to perform.

Completely two different case use with different performances.

The properties I've acquired myself have performed extremely well (extremely high cap rates and cash-on-cash returns).I started out self-managing my own properties, but I took on a few clients who were attracted by seeing how well my properties were performing.

The risk is that if prices ever stagnate or even go down, you might be over-leveraged.The other option, which is what I help my Canadian mentoring clients with, is to invest in well-performing properties in the US.

They want proof you can rehab and rent out the property and it will perform without financing it to the hilt.

This could indicate a Board that is more interested in keeping fees low, than performing the maintenance and repairs that they are responsible for.

As an example, check out the year-to-date performance of Sun Communities and Equity Lifestyles: Sun and ELS both invest in RV parks, mobile home parks and other asset classes that my firm loves.