We've seen a lot of fraudulant materials come through over the past several years. 

Price materials and labor cost will depend on how large of scope of work but a good company is going to be around 3500 a week plus cost of over head we also pay 30% tax on our income also like you guys but if you anticipate 4 week rehab well be ready for minimum of 14k in labor +14knis low end in my opinion... now I'm currently eating my lunch on a rehab from hell but it's gonna be a work of art from where it came from... this was the worst of the worst in my career water damage to all structural raised the roof on a horrible addition and did it correctly. 

I put in really high end materials on this one, brought in subs to check every single corner of the house and overall did a really good rehab (At least this was the feedback everyone left).

Bars will be on the windows (crime reference above).Don't be surprised if your cheap purchase costs that much or more to repair as your repair costs will be much higher than a home built with more modern materials, such as in the 1940s-1950s.

This depends on the neighborhood, material/finishes, custom touches, new roof, HVAC, electrical, plumbing, and ARV.

In my state, owning an LLC is quite expensive (800/year), so the risk/reward calculation is a little more skewed, but still generally makes sense for larger MFR deals.The debate really heats up if you're talking about residential class (1-4 units) as there are material advantages to owning under your personal name.

Materially participate in crafting your goal(s), your plan (working backwards from your specified goal(s).  

We have Lowes and other accounts to purchase materials for repairs or renovations.

Agreed with @Theresa HarrisGet a contractor recommendation (or multiple) from your friend and reach out to GCs yourself to have a couple of quotes and ideas for the renovation project.During the walkthroughs, you can pick the contractor's brain regarding pricing on different material grades, efficient layout ideas, etc.

New investors can go at there own pace, build relationships, and get better deals on materials and labor.