Some lending programs are more or less (there are various programs) but in general 50% DTI is max.In order to ensure you accurately plan for your future mortgage its good to know up front how these situations would be affected and what borrowing power you will need when the come times to purchase this upcoming "condo."

Can someone guide me where to apply and obtain a license to build this basement unit to an official unit with its address, electric, and other amenities?

In AZ, almost everything is utility scale, so 2.5 acres isn't going to attract much attention from power purchasers or solar developers.

Older buildings with older systems: plumbing, electric, HVAC, roof, tend to have more maintenance costs than newer properties.  

It has separately metered electric service. 

Units are metered separately for gas and electric.

I finished your book the other day, "Real Estate by the Numbers," which has allowed me to add a few more powerful metrics to my underwriting methods.

I did everything myself from cabinetry, drywall, flooring, windows, plumbing electrical, etc...

Hello All, i came across this  college town property - it is a value add opportunity. 14 Unit Complex - 12  2bed/1bath   &  2  1bed/1bath         * Separate electric and water meters.

So please tune in and become part of the resolution for those who are limited to the understanding of technology and it's abuse of power.