No mention of condition of property5.

What's the condition of the studio? 

It sucks being a situation where you want to unwind a sale or have to lawyer up and go after the seller.

- Run your numbers (including all operating costs including property mgmt) based on current rents in AS IS condition and renovated.

If the house were in perfect condition, it would be worth around 250-275k but as of now, selling isn't an option because we may use that property in the future for our business. 

There have been times when (left in such good condition and clean)  I've refunded when they left early.

7 - What are the ground soil conditions?

Never built in Houston before so take my feedback with a grain of salt but I'd put money on it being impossible to build a duplex from scratch for $125 a foot (including everything from drawings, engineering, permit fees, general conditions, labor, material, landscaping).Out here in AZ the builder cost is going to be $200 a foot at best, but add 20% on top of that for the client cost.

Although I conducted a basic septic inspection during the closing, and the system is in good working condition, it still failed the STR inspection.

Just as I would doubt any doctor or lawyer that claimed to be an expert in all areas of their field.