We had a very productive meeting on Friday and have decided to move fast on this project:Some highlights of the discussion at this meeting which was also attended by our contractor Frank and Jeaun Walters who will be helping us with the funding.We will not be splitting the lot and the project will be the entire 5 acres of land.We will hire an architect to redo the layout and make it a true 4 bedroom house.We will also redesign the front of the house.We will also hire a lawyer to speak directly with the bank's lawyer to get the negotiations moving fast.The cost of this project will be about $600,000We will need to raise 15% or about $90,000, rest will be financed.We will get a rendering done of the finished house and put a giant board outside the property and start marketing the property as soon as we acquire the title.The construction will take about 120 days.The final product will have a "farm look" which is the latest trend in Central Ohio.We will need to replace the old siding.Build porches to enter the building.Construct an entrance feature off the main road.Install a 1,000 Ft driveway.The minimum sale price is expected to be $829,500 and the highest could be $1,009,000.

Asbestos Siding per seller disclosure.Unit 1 (Top): 3 Bedroom/1 Bath large master bedroom, separate entrance at front and rear of the property 1500 sqft not including attic.  

We are moving into a place with a nice, finished separate entrance basement and a large two -car garage.

The studio is soundproofed and has a separate entrance for my students/clients.

Garage was converted to a spacious in law quarters (not permitted) 1/1 private entrance apartment with a kitchen. 

So, there's an entrance from one street and all the space between the houses we've designated as 'common area' for everyone to enjoy. 

I have small apt building 10 units, one main front entrance and three back doors for each floor, there are 3 floors.

Is there any reason I can't have 2 "Guest houses, servant quarters, or lodging facilities for caretakers or watchmen" (R-4 zoning rules I am referencing) in a single structure with separate entrances not connected to the largest unit?  

I'm 23 years old and looking to make my entrance into real estate this year after June.

I wont ask the tenant to remove their things from the basement but they will only be allowed to go in when they ask me in advance for entrance.