Then of course you have your actual construction costs.

Try construction mgmt?  

I bought and sold pre-construction condo's in downtown Chicago for many years.

I've seen several models, 1600sqft condo, 4000sqft home, a 5000sqft rented facility in a strip mall and a 10k+ sqft new construction catered primarily to a daycare facility.  

I have been in the construction since I was 17.  

@Robert Easter, that's why you will hear investors on here and podcast and books mention to use other peoples money. and @Gregory Hiban brings up the point of holding on to cash for emergencies, i agree with that totally. i was going to buy a fix and flip all cash and do all cash to fix, but decided against that because of the reason of having the money on hand, i have a student rental not rented for next year yet, i want to have that money just in case. i bought the house with money i still had in an equity loan and i am getting a construction loan to fix it. 

Tear-down across the street recently sold last summer for $565K and ~3500 sq ft, high-end, new constructions nearby are selling as soon as they hit the market for ~$1.5 million.  2.  

Below, are three of the most popular niches that you might want to explore to see which one grabs your interest.https://www.biggerpockets.com/renewsblog/2015/01/31/ultimate-beginners-guide-real-estate-wholesaling-2/ (Ultimate beginners guide to wholesaling)http://www.biggerpockets.com/renewsblog/2014/01/07/flipping-houses/ (step by step guide to flips)http://www.biggerpockets.com/renewsblog/2013/02/22/buying-rental-property/ (how to buy a rental property)Additionally, in the interim, simply bone up on the areas that you need to expand knowledge in such as, Forums, Marketplace, Learn, Network, Analyze and Resources.Continue to feast on the Podcasts, #askbp Podcasts, blogs and webinars Lastly, this site thrives on interactions and as such we encourage two wayexchanges and look forward to educational, thought provoking ideasrelevant to REI.

I have zero construction / rehab knowledge or experience, so I've read both of J.

Which they have cornered  that industry in construction and lending.