By doing this, you'll be able to ask more specific questions and get more precise advise on what to do when it comes to a flip.

There are things that they would be entitled to in terms of a price adjustment (in your example, if lumber prices skyrocketed for a specific reason beyond his control then usually the owner is on the hook, however, there are measures to limit this exposure).A contract can be drafted using the scope of work, estimate, and schedule (you can include liquidated damages - this is a sum (not a penalty) of what it would cost you if the project is not completed on time - think daily rent and storage rates). 

Does anyone have any thoughts on Orillia specifically, whether it's a good market to invest in?

My suggestion is: in the future to refrain from stating the specific amount of funds you will have access to - to protect yourself and your family.

I did a few searches on BP, but didn't see this specific topic, so I thought I'd give it a try.In this world of big data and the "interwebs" I am curious of anyone knows of a search that can list all-- say 20+ unit apartment buildings that exist in a city, or region. 

Hi Ned, you'll need to be a little more specific.

I am targeting 3-8 unit multifamily owners in the South Shore of Massachusetts, specifically around the Quincy Area. 

Although it has specific thresholds. 

And if either of these don’t improve the existing cap rate then maybe they are not the right project for this specific project?

You'll get a lot more responses there on specific contractors for a roof and HVAC.