My house is the lowest point on the property and though it hasn't rained since we moved here in April, neighbors have told us it can be an issue during heavy rains.  All the surrounding lot is dirt and most of it slop...

If I were you I'd start meeting with local architects and contractors just to see what is possible and the costs involved.Have you checked with codes and zoning yet? 

I would start by touching base with an architect (@Prashanth Mahakali or @Samuel Pavlovcik) about your rights by law given your current zoning and situation.   

You, as project manager (which is what you are if you are in charge of your building project), must be able to project your vision to architects, city or county planning groups, your financiers, your subcontractors and their employees.

Also any helpful hints on what to look for in proposals from architects and engineers would be greatly appreciated.

Hire an architect and draw up plans or what I did was build a "real log home" from a kit that was brought in from Idaho. 

@Lamont Marable check your local building and fire codes...putting living space below grade carries a lot of life-safety requirements and needs to be permitted...worst case...if there is a fire and tenants cannot escape...and you knowingly put living space below grade without the required safeguards in place...RE investing career over...Just do it right if you venture down that path...hiring an architect is always the best approach to something like thisBest of luck

My listings there tend to bring in a lot more artists, designers and architects.

Hey team, in AZ we are not required to have architects when doing flips or rehabbing residential property.

Purchase price: $215,000 Cash invested: $50,000 Acting as Architect - Developer, purchased and remodeled a SFH in Show Low, AZ and currently operate it as a short-term rental.