Another is, if there will be no working bathrooms during the rehab, that means you as the GC will need to provide portable toilet for yours subs.

@Steve Vaughan Well funny enough the appraiser made an error.....he did not look inside the comp that he compared this house to and if he had he would have realized that the comp was completely gutted inside....to the studs...The expenses include my loan payback amount which would be $972 in order to pay off in three years...otherwise the expenses would be closer to 1K ( including fixed & variable expenses) This house is in a C+ neighborhood.....SFH get 1000 to 1200 per month...two families get 600 to 1000 per month....so I had to change my rents to 750 per unit rather than 1000 just to be safe.....these units are larger than most and there are a lot of very large closets in each unit.....each unit also has 2 beds, 1 bath and kitchen and dining area.....The kitchens are sizeable too....killer basement and new 2 car garage....private fenced in yard in the back.....Still a good deal.....if I want to pay off the loan in 3 years then it would put me in the negative for the first few years....Thanks for sharing!

There are closets dedicated to just pipes.  

I think if I could convert two of the rooms upstairs to make a nice master suite, adding a master bathroom, and walk in closet, it would really appeal to the buyers of this neighborhood. 

So, if a buyer's lender orders an appraisal, the lender and the buyer will get a copy, but not the seller.In the case of the FHA appraisal, they created "portability" to prevent lender shopping to find the highest appraisal. 

Unit 1Blew out the wall between the bedroom and this weird wide hallway to create a studio style apartment.Inside the old and new “bedroom”Originally considered a 2 bed unit, the rooms were so small they didn’t have closets or real doors.

Door in the middle is a closet under the stairs going up.  

I'm just a closet numbers geek and couldn't help but to point out a little good 'ol fashion statistical manipulation.

With that said, converting an office to a 3rd bedroom by adding a window and closet (in a neighborhood where 3 bedrooms are desired) might, as one example.  

I've got a 27" deep closet upstairs I'd like to convert to a laundry center, and it's looking pretty tight unless I buy some really expensive European compact washer and dryers.