I am looking for several contractor recommendations for these specific trades in the Raleigh/Durham areas: Plumbing, Electrical, Roofing and Drywall.

It will provide you with a good foundation of the process.When you are ready find a good General Contractor (or 3) to walk a property and give you a bid.  

They may also know contractors they have worked with in the past who could give you a quote.

It also requires building solid relationships with buyers, title companies, contractors (to get rehab bids), and local realtors to name a few.

You do not want a PM what you need is a GC (contractor) to bid, estimate, supervise your reno not your property.

It has electric baseboard heat and no central AC.

Makes a little more sense now...To answer your question, whether you buy fix and rent or buy fix and sell, you'll still want to have your core team in place (Agent, contractor, property manager, and lender if needed). 

Well, for 5-plex, a commercial loan is needed, that is why I am opting for a 4-plex for now to get a conventional loan and lower down payment.I am looking for a realtor that I could work with, knows the central valley area and contractor/s for a  fixer-upper property to work with.Any advice, suggestions, or knowledge about a potential 4-plex investment property would be greatly appreciated.Thank you very much,Timz

I am planning on speaking with Building and Safety DptHealth DptFire DptI have a builder and contractor lined up already. 

Depends on the exact wording regarding default in your contract, or absent that, state law......rarely worth it.