He decided that he was coming out so upside down in the deal that he pulled it from the market and declared bankruptcy.His big mistakes were not looking at other $600K homes and getting an idea of features and finishes and not bringing in an architect to lay out a much more functional floor plan.As much as I'm heartbroken for him - and I really am - I watched what should have been a very nice paycheck for me evaporate too.Thousands in expenses, an enormous amount of work, no income to show for it and a broke client. 

Your architect is correct. 

As an Architect we always see the transformation of old properties but don't get to see the investors perspective.

@Akeam BaronCan’t beat Chief Architect.

I've gotten a rough estimate from a GC of $80-90/sqft to build a concrete block duplex with 2/2 sides based on a pre-made plan signed off by an architect. 

Be careful with it though and only accept a true engineered cost segregation study done with a site survey by a construction engineer or architect qualified in cost segregation.

What ever timeline a builder/architect/engineer quote you add 6 - 12 months.

As licensed Architect I don't fit the selections.

The word τέκτων is the root of the Greek word αρχιτέκτονας, which we are more familiar with written in English as "architect."

@Jojo Tejada I am an architect, realtor, and do some property management as well.