And the second floor will not be conducive for patients unless there is an elevator, and ADA requirements.From both an beauty point of view and a  business point of view, and my personal experience I'm not much in favor of duplex conversions. 

As long as you feel long term that the rents will continue to stay elevated and the prospects for your area are strong..Problem with condo's is that they are a wild card when it comes to fees. 

It would be immensely helpful if anyone could enlighten me on what to expect on the subjects of fire, elevator and water tower inspections (frequency/cost), building maintenance, insurance, property management, etc.I believe 5% each month and a 2-3 month fee for finding tenants, please correct me if im wrong. 

I don't really have a rule of thumb, it depends on all of the things you mentioned and also how big the building is and what your amenities are, if you have garages that may have doors that need to be replaced, elevators, overpasses...those types of things that would be different from a standard building.

Also not sure of where you are geographically but in colder winter states they add electric reheat backup which elevates the price.

Specifically, here is the info I am looking for:Average cost of land or propertyCost of land or property as it relates to per square foot of buildingCost of construction per square foot (including elevators)Cost of elevators (itemized separately)Average rent per square foot per yearCurrent rates on construction financing for office buildingsThanks for all the help, guys.

I've done many of these, but you're going to have to have an elevation difference somehow. 

I'm looking at a brick 3-Flat in Chicago that is immediately next to the elevated train line.

I have dealt with quite a few and sometimes some have a way of elevating their interest of earning a commission above the clients best interest.

@Steven King what's your 'elevator pitch'?