Buy the property nextdoor?

[Eric Einstein]

In Denver, I'm considering buying the property next door to mine and renting my current (2Bd1Bath) Single family home. 

The property is a double lot and 3 bed 3 bath, but my thinking is it is rare to have the chance to own 3 lots in a Downtown area that is quickly being converted into townhome and higher density living. Both are older homes, the 3/3 was renovated in the 80s.

2/1 home is prime candidate for a tandem house out back or teardown and convert to Rowhome zoning, (properties were recently rezoned just across the alley tandem homes, ADU already zoned ok)

3/3 is newer, on a double lot, but my thinking is that I could hold these for a while, go through the rezoning process and sell both if/when the neighborhood continues to get hot enough for more density building, possibly work with a contractor friend of mine to get going in this direction, or try to do construction of tandem home behind 2/2 and then adu behind 3/3 home.

Are there any resources for spreadsheets or analysis specifically in this realm/that I could show my financiers to calculate the projections on this? Any thoughts?

[AJ Wong]

Many of the most successful investors I know accumulate properties in areas of familiarity. You're on the right track..the BP tab 'Tools' has some decent resources, I've also found excellent analysis spreadsheet on Etsy for a few dollars. A key part of your projections will be mortgage terms..check in with @Joseph Chiofalo he has a fun comparison tool and my go to lender for over two decades. Good luck!