You'll either have to convert the house into a legal duplex by getting permits from the city or you install an electrical panel split so that you can track each units/bedrooms of their power usage.In terms of lending world and being to use the rental income, the property needs to be a legal duplex meaning title must be shown as a multifamily and not a single family in order to use the rental income separately.

It could be permits or some issue with the contractors which could all add to your holding costs.

Does anyone have an idea of the who I could hire to make drawings to submit for a permit?

Keep in mind that you would have to get permits and such for a project like that. 

This figure includes the construction of the building but excludes land acquisition, permits, and other associated costs.Cost per Door (Unit)The cost per door, or per unit, in affordable housing projects can also vary widely based on the specifics of the project.Average Cost per Unit: Recent affordable apartment buildings built using public funds, such as Metro housing bond dollars, have cost between $412,000 and $522,000 per unit.

We really can't tell you anything based on the information offered, it depends on local laws, costs, rents, materials, permits, etc.....

There is money in buying raw land and getting it permitted for build with plans and flipping it shovel ready 

I will look into permits etc.

How were the prints approved without permits?

He said contacting the lender is critical because the sale can only go through if they permit it  And they may have additional fees.