OR "Having looked at the market, there are 5 comps that have sold in the last 2 months for between $185k and $220k that are close to us in size and configuration, so given the differences I feel a value of about $200k is fair." 

Contact me and we can discuss neighborhoods, etc. to narrow down what the area and configuration should look like.

As you so correctly state the market changes and evolves.. there are darn few who have been in the business in the same configuration for over a decade.. they have either moved on... changed industries etc.

I'm not sure about the load, but in this new house, I would assume there is enough.I was more looking for people who have installed this configuration in their rental home, and their costs and return from having the hookups.

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.