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I would like if you ever need a licensed GC to do renovations/Tenant Improvement projects I have a group for that.  

At the pro forma income, the cap rate would rise to 8%, which is more reasonable but only achievable after renovations.

Old post but I figure I would comment here... my Company, Maven Cost Segregation has done studies on projects like this.

Plug in post renovation rent in cell E10..."  

But I strongly urge anyone to always get Aldermanic support before proceeding because it makes life--and the entire project / process--a whole lot easier. :)IN SUM: Based on what you've shared, it sounds like you won't need to rezone if you just want to build a duplex.

Pete is crucial to manage renovations and property management remotely.

Projected sale: 950-990k Replacement property budget: 990k - 1.1M Plan: rent out the replacement home until meeting the requirements, then move into it while renting out a portion of the home via short-term rental 

My first impression is that your numbers in the current economic climate seem a little rosy.I also have friends that are builders and I try to stay in touch with them on costs as we mostly do "to the studs" renovations when we buy a place. 

My metrics were to be all in purchase and renovation at or below 80% ARV.