No one can tell you the potential value of the lots without knowing the site development costs, city/DWP fees and what the homes could ultimately sell for. 

Just finished the book how to invest in real estate: ultimate beginners guide.Also, could I ask help from you great realtors here on evaluating my first investment and do you think it would be a good first step?

FHA appraisals can be hard to predict, but they're focused on safety/habitability and that is ultimately the opinion of the appraiser.

Hi Matthew, Thank you for posting.Platforms like Airbnb are great for getting started and guest acquisition but the ULTIMATE goal for any business owner should be to own the customer. 

Local governments haven't a clue as to the dramatic shift in the business they caused and ultimately higher rents and tighter standards they created. 

However, ultimately I decided to go against this as it may set a precedent for them to continue to ask for more and more modifications. 

I shifted focus but def plan on going back to the strategy and ultimately plan on graduating to deeds so I can acquire the land. 

It dosn't mean what they push about thier market is wrong, but ultimately you should do your own data driven comparison.

I am sure this will ultimately be "ask your local appraiser" but I wanted to get thoughts here if you think this would count as a 1 bedroom.

Just finished the book how to invest in real estate: ultimate beginners guide.Also, could I ask help from you great realtors here on evaluating my first investment and do you think it would be a good first step?