Before I put a offer in I looked to see if there were any open permits, there were none.

I'd be talking to at least 10 national lenders from biggerpockets and have your land appraised. you better have permits in hand, entitlements. complete, etc. sounds like it's too early to be talking about financing. 

You will spend 2x as much as you think and it will take 2x as long as you think and you will get 2x fewer permits than you should because you will use 5x the number of contractors you should.You are thinking money first which is why it won't work.

Some areas have strict rules or require special permits.

I am also being advised that I should expect to pay between $25,000 - $30,000 in total for permits and fees including the $18K referenced above.  

Additionally, to theextent permitted under applicable law, Landlord may recover from Tenant Landlord’s court costs and reasonable attorneys’fees and expenses incurred in connection with any legal proceedings against Tenant.To the extent required by applicable law, Landlord will use reasonable efforts to mitigate any damages resulting from TenantDefault.

And you also have to jump through a lot of permitting hoops and redtape, depending of what you want to serve: take out, dine-in, beer&wine, liquor - all different licenses.

Some things that might be a concern:1) Obviously have to make sure things are all permitted first2) I don't want the room to "feel" like an addition, so flooring has to be same level/standardized with the rest of the house3) Unlike the rest of the house that has an identically-shaped 2200sqft basement underneath, this added space will not have a basement directly underneath it -- I'm not sure if this poses major cons for some reason that I'm not aware of4) Especially given the lack of basement underneath, I have to make sure that the HVAC can still somehow be piped into this room#2 and #3 are probably my biggest concerns (#1 and #4 I can find out relatively easily)Any tips/thoughts or other experience would be greatly appreciated. 

Properties that can be quickly renovated and put back on the market are likely to capture this existing demand.28305 though experiencing a slight decline in inventory, saw an increase in sales, particularly in larger homes, suggesting that despite lower availability, demand remains robust.Potential Saturation Challenges: Despite a surge in single-family home permits, areas like 28303 and 28304 may grapple with market saturation, necessitating strategic flipping approaches to navigate fluctuations in supply and demand.Recommendations:Emphasize nimble, smaller-scale flips in areas like 28303 and 28304 to mitigate risks associated with potential market saturation.Average Sale TimeZipApr 2023Apr 2024CHANGE2830156 Days30 Days-47.00%2830361 Days33 Days-45.80%2830450 Days17 Days-64.80%2830576 Days39 Days-48.30%2830672 Days30 Days-57.70%2831169 Days34 Days-49.90%28312124 Days51 Days-58.80%2831451 Days23 Days-55.00%28303: Focus on 2 to 3-bedroom houses, as these are currently experiencing robust growth in sales prices and demand.

He looked into the online portal and said the build permit will be expiring soon.