If property owners are not using an architect at this stage, are they simply making a submission based on an educated guess as to how much it will cost to provide the space needed?   

It is a great strategy for a certain stage of life (before a family with kids).

Everyone's answers to this question are different because we are all at different stages of our lives and have different personalities.

Reason for my call is I'm researching some multi-family investment properties in zyx area and i'm in the final stages of my analysis and building out my team.

Congrats on finding a great deal and for getting to the final stages.

What stage are you currently in?

Procedure should be simple as highlighted.Just remember, it was on a Li’s Pendens list so the possibility of it going straight to bank owned without it going through... really an on-market preforeclosure, foreclosure or auction stage is slim to none at best.

@Rapy Narruhn avoid funds at this stage in the cycle and focus on direct investments. 

It might be one, but I live too far away and have too many home responsibilities to be the one to refine it at this stage of my life.  

I love the idea of house hacking, but at my current stage in life it's just not an option.