But, when it comes down to it, they are all the same thing, just in different configurations of walls, but they share the similar components whether it's a toilet, a faucet, a roof, etc.The key thing is to have them in a good state to start with.

In my mind, the two are not related.I can't charge rent on vacant landthe configuration of a unit {studio, 1/1, 2/1, 3/2,...} as a market and FMRAssuming you're interested in developing raw land, there's lots of considerations before picking a specific configuration.

The NOI comes from the Gross Scheduled Income -less- the Operational Expenses (both being annualized numbers)The GSI should be the FMR for the unit configuration (2/1, 3/2) x 10 units x 12 months and you can get pretty close on that.Operational Expenses is another matter.You're into flip-rehab so the operational side may not be so obvious to you. 

Yes weighing out the legal entity configuration here in Texas will require a lawyer.

I would think that in my Salt Lake Market it do a basic building of that configuration you would be looking at the mid to high $200's a square foot for hard costs.

So, we sealed up the doorway and knocked down the wall between the half bath and closet to make the full second bath.I would say to look for house configurations such as this as a good starting point.

Also want to add a crown mold around top, and install a cabinet in corner to enclose fridge, as with the current configuration the fridge just sits in open and looks out of place.  

The benefit of a good aluminum product is many of the product lines come in retrofit configurations effectively eliminating the need for much exterior metal work.

It is possible for a building to be in contravention of the zoning under the current municipal plan, but to have been in compliance under zoning at the time of construction/modification to its present configuration {allowing it to persist unless the building is altered again in some significant manner} - this is the rational behind requesting the Vendor obtain a zoning confirmation letter.

With this configuration on a bathroom, does anyone know of a good vanity to use?