My aim is to double our properties under management in NJ to 120-150, grow the brokerage side of the business, start doing construction project management for our clients and open up my real estate office later this year.

Purchase price: $200,000 Cash invested: $50,000 Brand new construction What made you interested in investing in this type of deal?

I understand this is somewhat rough and I welcome all constructive criticisms to my logic here.

Because even with my background in investing and construction I understand how easily I can overlook something, and how easily 10k can disappear on a "move-in ready" home.

As a new investor, I'd be happy to use this person as it would be a way for me to learn the construction portion of a reno project for future projects. 

I am not planning to live in the home, and once construction completes I want to sell it.

You should talk to Builders in your area to find out current construction cost.

Take a look at what other people are doing in their flips, new construction subdivisions, and the MLS in general. 

Doug is a wealth of knowledge and has construction background, which is extremely helpful.

Of course, I would imagine an undertaking like this would require incredibly in-depth demographic and feasibility studies among other things - worst nightmare is to be in debt with your only asset being a beautiful new but vacant building in a location no one wants to be.