Has the potential to add a 3rd efficiency unit with a 90% finished 3rd floor.etc. etc.Here's the problem...The sellers of the property offered it to me for $200k if I could get financing.

@Aakshay Subramaniam, first, good luck and hope you attain your goals! 

There is a delicate balance somewhere between keeping legislation strong enough to protect homeowners, while also not burdening the industry so much that people choose to do work illegally as you suggested, or take unnecessary time to deliver a finished project (and thus a home for somebody in this case).

Does anyone know if you need permits to finish out a basement in Cobb County?

In the current market you're able to pick up rows over there very close to 100k and you don't need to do the best of finishes to hit Section 8 standards.

He has been working on properties his whole life so he’s a great resource and partner on getting the work done but as this is my first purchase and reno, I am looking for a few suggestions on finishes so I can finish working out my numbers.The house was bought from a local investor who seems to have run out of money and was offloading about 3-5 properties in my area.

In other words, they should not be paid for plumbing until they are completely finished with that trade.

Honestly, I've found in my market that the ROI on nicer finishes is pretty terrible.

I am finishing up this year.

I am finishing up my first Duplex and hope to be looking for my next one soon.