Don't skip any of the above figures to make your numbers look better or you'll just  get burned when you think too optimistically. you WILL need those contingencies like capex roof replacement and being able to afford a PM because no one wants to be forced to manage your own rentals forever because they forgot to budget for that expense.

I was/am involved in the development of a roughly 5 acre parcel on Kauai. 

I also like to load up a cart on Amazon or Home Depot with all the materials that I need to cover, eg. appliances, flooring, fixtures, so you can nail these figures down.I forgot backsplash

its likely that if they are operating in PA they couldn't get things figured out because they were not familiar with Florida laws and statutes. your in the clear so long as you have title insurance so you can rest easy

I will have roughly $25k+ in equity from this townhome and that along with our own cash is where I'd like to start with my first flip.  

im new to investing so excuse how foolish im coming across  im 23 and just purchased this house with the building out back. it already had a well and septic. its roughly 317 sf. inside the building. it was built onto a singlewide mobile home that was removed off the land before i bought it. i was told by zoning and planing the most sf i can have is 615. 

The other option would be to figure out how to increase the income of the place to make it work.  

Once I figure out most of question 5, I will know if I am able to possibly execute the buy and hold until the units come online.  

I'm just stuck trying to figure out what's the best move to start out with.

Definitely talk with a lender to figure out how to take advantage of your VA benefits.