-Acquisition cost $750,000-legal 3,000-survey 300-renovation existing structure (very rough estimate) 100,000-addition (2600 sf @ $100/sf) 260,000-debt service (held for 1 year @ 10%) 113,500-insurance 1,200-architectural 2,000-contingency 25,000COST $1,255,450comps in the area are selling from $325/sf (new construction) to $300/sf, so I will use the lesser.Sales Price - 5000sf @ $300/sf $1,500,000less broker fees 90,000Net Sales Price 1,410,000NET PROFIT $154,550If the house sells for $315/sf, net profit goes to $225,050.Are these number realistic?

survey says!!!

Everything you need to know as far as getting your surveys done, wetlands certifications, planning and zoning etc..

Have a contract which covers all your basis including earnest money deposit, title company you are going to work with, survey information, inspection, termination, option period etc.,2.

I'm just a "layperson" - I do not work in the construction or surveying fields...and I don't have much background knowledge or experience in these fields (whatever little I did know, I've forgotten).

This would be one of those assets you really need to start a market survey.

I assume that the presence/absence of vernal pools would be evaluated during a land survey process when you apply for permits.

The deal is only $32,400, no agents, all cash- no mortgage, escrow, or any of the fees that go with originating a mortgage or mortgage insurance, no inspection (since there is a building, but it’s mostly for the land), we have a survey that was done a year ago so no new survey.

I'm not trying to be mean or poke holes here in this, just trying to help- but for $55K and adding all this into a house where you're likely going to be looking at new water lines/pex (I'm TOTALLY assuming there's no sewer scope done etc), updating electrical, there's probably (or could be) asbestos siding, roofing and other far outdated items- PLUS the addition of beds and baths in costs for total rehab- PLUS you're adding onto here right in SqFt- not within the walls work for these rooms so survey to lot line etc-right, well that's one part. 

Behind the property I manage is one residential house and a parking lot for a restaurant. And between the two, still behind the property I manage, there is a mysterious square of land. It seems like it would have made...