What if I finish the project in 3 months do I owe any more interest on it?

The property was in a great market but needed a full cosmetic rehab and basement finish to add a bedroom and increase resale value.

Wherever you took your broker's class you should have ample study materials.If you are talking about your real estate agent's license in NJ (that is not a broker's license), you need to take the initial class at an accredited agency and they will give you all of the materials after you finish the 75 hours for the test. 

Repairs were needed and were finished by early december.

If you buy regular keyed locks (non-electronic) as Nathan Gesner recommended, then buy Schlage because they have a lifetime warranty on mechanical and finish. 

You can finish it and consider it sq footage, but may not be able to adverise as bedrooms.

Look and finishes would be similar although lot is quite a bit longer on the property I'm looking at, about 3x the length of that property.

I updated the bathroom/porch in the spring, and am finishing construction on a 2-stall garage (the previous garage was basically a large shed that I could not fit much in).Moving forward I am considering one of the following options to put my money and build equity:1.

Here in Chicago, you should expect a range from $200-$275/SF, depending on the location, experience, labor, and material finish level.Are you in a position where you already own some land, or what is your current situation?

You need to remodel to about that level of finish to be competitive.