I recently bought a Colt Match Comp HBar, 20" flat top and have been really enjoying the gun, addded a 3-9 x 28 tactical sight for crow hunting.

I want to expand my collection into a 16" M4 from Colt and outfit that one with the Aimpoint.

I dont know much about gun trading/selling restrictions, [stand by for a dumb ass question]can you buy a gun over the internet? I have no FFL, to get my first Hbar I had to fill out an application, show photo ID, have my name run thru the computer and wait like 10 days (Connecticut). I gotta believe thats true everywhere, right? I was just wanting to take advantage of the lower prices I see on the internet than at my local dealer.

Or, do I have to go to a gun store only? How can I get a good price on a new Colt M4?

From what I hear the M4 is becoming somewhat hard to locate, so enquire now of the Internet dealers you have seen advertising them. If you get one the Dealer will have to ship it to YOUR FFL, after receiving an inked FFL from your FFL. Any local laws regarding waiting periods will still apply, and you'll still need to do the NICs check. Once all is said and done your FFL will complete the transfer just like your local shop-(for a small fee...)

Thanks. Is it safe to presume that my local dealer has  FFL? You think I could have the internet seller ship it to my local gun shop? Any idea what a fair "fee" to the FFL would be? (dont wanna get rooked).

The FFL (Federal Firearms License) is his permit to deal in firearms so yes, he has one.

Most dealers charge $20-$50 to do a transfer. If your's wants more go to someone else.

I'm sure the folks on this board who live in your area know of dealers who will help you out.

Is it safe to presume that my local dealer has  FFL?

Yes.  But, make sure first.  

Also, make sure that the local dealer will handle this kind of transaction for you.  And, get him to commit to doing so (for a definite price) before you commit to a purchase.  The  seller will presume that you have an FFL ready to handle the transfer.  

excellent advise, thanks again, i will ask my dealer if he can receive the rifle and what his fee would be, lock it all in with a written agreement.

Try gunfinder.net.