Construction costs have always been based on my contractors and suppliers then current rates + factoring in their feedback on cost trends anticipated over the next 12ish months, depending on the rehab timeline.  

The biggest, most common factor that I can think of that can really drive up the cost is if the property is in a flood zone which you should avoid anyway.Just a tip, when practicing analyzing the numbers, if the math is so tight that the insurance being a bit higher than anticipated is what makes or breaks the deal then that is probably a good indicator that it is not a good deal in general. 

., across from the commercial retail shop construction site, with the new traffic lights being installed presumably for the anticipated increase in traffic?"

Awesome : ) Anticipation

I also have personal interest in visiting the area more often, so travel to inspect and manage the property suits me.I anticipate this property will have a stronger resale value at some future time and that extracting cash from the rehab before sale makes sense.

., so planning around those; with enough dependencies, it could be easy to overlook a few of them at first, although the example above may not be the best); an anticipated timeframe for each of various tasks (he divides the property into 25 very handy and well-organized components, and covers them one at a time as well as how to view it in the larger scope of a rehab), and more.

But cash flow today should trump (anticipated but not guaranteed) appreciation in the future.

Also the time before the investment throws off the anticipated return matters as well.

Scarcity is the present or anticipated supply of a product in relation to the demand for it.

I ask this to see if others are anticipating a market crash and a repeat of the financial crises of 2007-08 and how is this affecting your real estate investing decisions currently.