Does anyone have a trusty renovation/construction estimate calculator or guide they use for our market? 

Submettering is an very viable option($$ knob and tube(1961 construction) ) and there is 1 water heater per building(3 building=14 units)(individual AC units).

I wanted to share some insights I’ve gained while working with new construction duplexes in Indianapolis.

@Marquez Davis You can expect a lot lower leverage with land purchase, but as @Sasha Mohammed said, there are products for ground up construction that roll the costs (horizontal and vertical) into the overall construction budget.

For example, we work with new construction duplexes in Indy that not only have lower insurance costs but are also brand-new properties, which means fewer surprises when it comes to inspections and repairs.If you're ever interested in diversifying or looking at markets that might offer you better returns and fewer insurance headaches, feel free to reach out!

He has acquired the land, gotten the permitting, has construction financing lined up but needs ~20% cash equity / home.I know very little about his particular real estate market, and I've never built anything myself. 

For your other new construction project we can get you funding for up to 90% of costs, please let me know what your credit score is, you may also want to bring in a credit partner. 

I have a background in design and come from a long line of handy people as my Grandfather and Father have both done their share of renovations and home construction.

If that isn't a typical day in real state investing (construction, project management, etc), I don't know what else is.

it's hard to do that as an agent, easy to do as a spec or volume builder or developer if you have floorplans you like, etc. we build triplexes happy to chat and help you understand the market better here and see if new construction is for you