Holding costs if renovation will be required (interest, builder's risk insurance, permits, porta-potties, lender draw request and/or inspection fees, etc.)

Duplex have different zoning that may permit additional units.

Are soft costs like permit and architectural fees drawable and when are they released?

If you only have to resand the flooring and it's cheaper, maybe go with that instead,JC township will definitely require permits for plumbing, electrical, gas lines.

The last you want to do is make an enemy of the firemarshall as they could permanently pull your permit to be able to rent at all.

This stuff will hit you if the things were done without permits..

There is a very strong effort to ban them completely from R1 zoned areas which has made it very difficult to apply for a permit unless you buy a house which currently has a permit in place.

SECTION 8 ANALYSISSection 8 Rent permitted            $1785.30Subtract Utility Allowance             - 468.00    Actual Rent Charged               $1317.30Subtract Mortgage                         - 500.00Subtract Prop Mgmt Fee               - 131.73Subtract Taxes (20%)                     - 263.46Subtract 10% Vacancy                   - 131.73Subtract 10% Cap Ex                      - 131.73            CASHFLOW TO US             $ 158.65STANDARD LEASE ANALYSISMonthly rent (asking amt

"Limited supply due to tough zoning and restrictive permitting process, high construction costs, and expensive dirt, and population increases (guess AI hasn't gotten the memo that population has actually decreased)". 

That no additions or remodeling was completed without a permit.