Would have a good return, but we have always had other projects with better returns. 

Investor-friendly broker/property manager here in Clarksville, TN 👋🏻 Nice to meet you!

I will mostly manage most of the work: underwriting, rehab, rentals, etc.

Starting a new high-end residential spec project. 

Areas that have been good 30 or 50 years ago are still good today.One wildcard though.The city of MKE has initiated a projected called GrowMilwaukee, which is based on the majors vision to increase population (for fiscal reasons, more people per square mile) and they have identified the lack of midrise mixed use districts - they call it the "missing middle".

If you want to find people who will try to help you lose your money, telling them how much money you have and where you will be is a good way to start.You are limiting yourself way too much by focusing on LA, but with $2 million to burn you could likely find some good cash flow if you are paying cash, but you don't sound like the management type just from this.

Compile a punch list of any incomplete or unsatisfactory work, and ensure the contractor resolves all issues before making the final payment.Obtain and retain copies of all inspection reports and permits for your records.Collect warranties for any new appliances, systems, or major components that have been installed.Provide feedback to the contractor on their performance, which can be beneficial for future projects and maintaining a good relationship.

You want to leverage your current home's equity to buy out of state and do Section 8 (very difficult for new landlords and very hard to sync with property management) or flip out-of-state?

@Jason TakenWe are looking to do a 50/50 split of the entire project.

Do I get a property manager to help manage?