So, when investing in areas they don’t really know, investors should research the different property Class submarkets.

Obviously there are properties and investments that are exceptions but since we're discussing nearly unlimited budgets, my first look for a legacy estate would be begin in other areas.

Past few years there's been more expansion and development in the outer areas like Queen Creek, but those areas have appreciated even more than phoenix/scottsdale. 

@Rosmery ThenGood morning, let me know if you still have questions about the process or contractors that could help you in this area.

Some of these comps aren't in the same subdivision and the sqft for all of them are a lot less than the original property.

The idea is to convert a multi-family building into condos; but not in the traditional sense where you separate pre-existing apartments into their own condos; but in a way where you combine the common areas of all of the apartments in that whole building, and turn the individual rooms within those apartments into condos themselves; thus transforming the hallways, kitchens, bathrooms, living rooms, dining rooms, porches, balconies into common areas of the condos. 

Sewer and water in my area is around 10k a unit.

@Darrell Overly  there are certainly enough mobile homes in the area around phoenix (East Mesa/Apache juction) but your issue may be the age of the homes and any limitations the park has on renting.   

In our area, it is rare to find a gas station where the real estate is owned by the operator.

This led me to researching schools in my area that provided degrees in construction.