We have done this in four houses and it turned out fine. We are lucky to have a carpenter who knows alot about the other work, but prefers not to be the GC, but is around to help troubleshoot. You sound like a good candidate. The main issue you might run into is finding subs that will take you seriously because you're not in the business. You just have to be upfront, ask lots of questions and let them know there is plenty of work down the road if this one works out. I would start with a small project to get your feet wet, keep files, get every estimate and contract in writing, etc. Act like its a business, because it is. Also take out permits, as you'll then have the inspectors on your side too.

My experience has been the same as Allison1888's - I am the GC on my current kitchen remodel, but my carpenter is a friend who helps enormously.

I must say that I find the exacting detail of being the GC exhausting. "Do you want this line here or 1-1/2" to the right?" Should the cover panel be 24" or 24-3/4"? My brain doesn't work like that naturally, and it wears me out to do it. Only the fact that I'm saving money makes it worthwhile. (For example, I'm spending only about $7,000 more on my kitchen, complete with moving the plumbing and new everything, than I did to remodel the master bath five years ago, with a GC. Both were complete gut and rebuild jobs.)

You will need to oversee the work and that can be difficult if you have other responsibilities outside of the house.

Thanks for the ideas. Allison--that's exactly how I had planned on attacking the idea: as a business. It's good to know I was not deluding myself into thinking just because I can run a business efficiently I can also manage this. I look forward to that aspect of the renovation and is part of the reason we decided to enter this adventure now--at this point in time, I can make this my full-time job. I am ridiculously meticulous about details and budgets and contracts and schedules. I miss that part of my old job, in fact. I understand (see other post about timelines) that this is a slower way of going about things, but I can accept that.