I hope to follow in his footsteps one day as he was such an intelligent, down-to-earth man and the best father/grandfather ever.

It seems to me it can be a bubble if new construction pumps up supply way beyond demand.

Having said all that, its all based upon supply and demand so some areas of the country will get more of a discount than others.

You'll definitely have to do more due diligence on your contractors and stay more on top of things if you don't have any construction background, but after a couple projects you'll start to learn that side of the business.Look at it this way, Warren Buffett owns businesses ranging from insurance to food to shoes to diamonds to paint supply to jets to furniture to railroads, etc...do you think he's an expert in all those things?

BP is very supportive and supplies an unlimited source of resources.

Seemed more down to earth?

Network with vendors will get you better deals on supplies, or unless you want to pay retail.

I can purchase the valve and housing from the same company that supplies the municipalities for $120.

It can not hurt to have the supplies on hand, even if you do need them right now if you in the rehabbing or rental business.

Very down to earth guy, and an active investor.