You can also call local small and midsize GC's for their budget guidance on hard costs.You can do a very simple proforma as follows:Revenue from salesLess Broker fees for condo sales, closing costs for unit sales, warranty costs for units salesLand, closing costs for land, broker fees for landSoft costs, architecture, civil eng, MEP/S engineering, soils report, Phase 1 if needed, developer insurance, prop. taxes during const., marketing, subdivision costs, HOA formation and reservesHard costs - GC contract costs, overhead, profit, insuranceDevelopment impact fees, permit fees, school fees, park fees, etc.Loan costs for const. loan, interest carry, loan fees, appraisal costs, lender legal, funds controlDeveloper feeEquals (what's left) - developer profit, normally shared between equity investor and developer. 6.

All penetrations for pipes, duct work, wiring or anything else much be caulked with fire retardant material.In many areas a condo separation will require a subdivision plan, with engineering, blue prints and municipal/county review and approval. 

I was considering hiring an engineering firm to design the home to make sure everything is structurally sound.

I worked for an engineering company whose structural engineer messed up the design and the result was that a fully finished house had to be torn down and a completely different foundation system used.

I’m trying to decide between Allure flooring and an inexpensive engineered hardwood at around the same price.   

I managed the rentals myself up until early this year when I hired a property management firm in order to get some free time back, have some backup so I can go on vacations again,  and in response to the hostile political environment towards landlords in seattle.My long term plan with REI is to get to a large enough door count such that with sufficient equity the net cash flow is enough to live on comfortably  (which I would define as matching my current gross software engineer's salary).    

A little about myself, I'm an engineer working in the aerospace industry and I am here to start from the bottom and work my way up in the real estate world.  

Hire and manage a design team, including architect, landscape architect, civil engineer, soils engineer, to produce the initial design concepts and schematic plans necessary to complete the entitlement process.

(I understand the engineering is an additional cost).Thanks!

So here is what I'm thinking could happen:FHA makes us  get an architect or engineer to confirm the single family plans making sure the structure is sound and has been converted safely.