Now--here is where I am different--I design my projects.

.- Keep an eye on the local market trends.

BiggerPockets is full of resources designed to help you along your journey, whether you are just getting started or a seasoned investor.

Leverage Market DataUse data-driven approaches to adjust your offer strategy: Comparative Market Analysis (CMA): Constantly analyze comparable properties in your target area to understand market trends, price points, and days on market.

If you’re not comfortable with your analysis and still want to pursue the purchase, I would recommend engaging the services of a real estate consultant holding the CRE designation and paying them for a short form report.   

If anyone has any recommendations for an Architectural Designer or Structural Engineer who can help design and put the plans together that would be awesome.

I would suggest looking up similar rentals in the area to see what the trends are and what features are offered at the price point you are expecting.

Reading up on local job growth or population trends can also give you a good idea of how the market is doing.

High fire zone designations are also a consideration.

We have multiple homes designed for assisted living that we lease out to the business owners.