4)  Typically the lien holder (mortgage company) will require a a new appraisal showing the value after the split and might require all or part of the proceeds paid for the lot to buy down the mortgage. 5)  The city might require you to put in sidewalks, curb & gutter if they are not in place on the new lot. 6)  If you plan on building anything on the new lot, make sure that is approve-able by the city planning and zoning department.I did a lot split on one of my rentals in Boise and had to jump through a lot of hoops, but I got a separate building lot out of it so it was well worth it.Best of luck.

The following is labor only:$4.50 per sq ft for flooring.Painting: $100 per nominal room size of 14' x 16'Doors: $350 per roomAcid/pressure washing front/left side of home/sidewalk: $650.Follow up question: if this is too expensive (or too low), what is the appropriate cost for these items in the Memphis area?

If he doesn't, then it will go a small way toward paying somebody new to do the repairs ( he framed the sidewalk crooked so the concrete is poured crooked, some tile work is incorrect, etc).

Yes, the landlord will have to pay the legal fees deductible on its own liability insurance, and will also suffer incredibly intrusive inquiries into every aspect of its business and personal life as the parties engage in "discovery" during the lawsuit.A third party who trips over a tenant's child's bicycle on the front sidewalk, and suffers injury and medical expenses, will look for somebody to sue.

Again, you can't be afraid of some trash on the sidewalks or unkempt lawns, but this area's property values have nowhere to go but up.

Some of the streets are less desirable because of the slope of the road/sidewalk and all the locals know you can't walk or drive on that street in the winter....something you don't know as a out of town investor.  

Things can look very different when you're standing on the sidewalk.

The new sidewalks and infrastructure have cleaned up the area and there are now loads of pedestrians and bikers that we didnt have before.

That's one month out of four gone.The Cape starts to roll up the sidewalks after Labor Day, but September is a great time to be there. 

Also sidewalk, curb and gutter may be required if it's not in place already.