Per zoning code)Can be done as a carry back for the land purchase and all cash for the guest house construction.Market value once complete = $600k (similar home lots are going for $700k+ so this is a conservative estimate)Apply for a cash out conventional bank loan.Use the cash out to build the main house.Main House = $200k (3+BR/2.5BA - approx. 1,800 s.f.)Live in the main house and rent out the guest house for cash flow to help out with the mortgage payments)Build some equity, savings, and give some time for possible appreciation.Build a second main house = $150k (3BR/2BA) 1,500 s.f.Sell off 1/3 acre with second main house on it = $550kOriginal investment = $360k + $75 k + $200k + $150 k = $785kSelling of second main house = $550kResults in 2/3 acre with a 3+BR/2.5BA main house plus a income property for only $235kI know this is all big picture stuff and is not including loan fees, RE fees, and other soft costs.The reason the construction prices are low is that I am a architect/builder who will self GC the projects.I am looking for any feedback on this deal and possible problems that I am missing.I have not done a deal this big before and am looking for some experienced advice.Thank you for your time.Locus

Being an architect, it always rubs me the wrong way when, while I was shopping for homes for my family, a realtor would say it's 4 bdrms.

I am a licensed Architect in NY with many construction industry connections which lend itself to owning property.

I am an Architect and so I'm also thought about him providing a 30% Construction Loan down payment, to design, project manage a home for sale.

Do you hire an architect to do it all from scratch, or is there cost savings in buying a per-drawn plan online, and working with that?

Bigger Pockets is an excellent source but there is no substitute for instinct developed by your own due diligence.Develop a relationship with an attorney, brokers, architects, home inspectors, contractors and insurance agents to get started.

Specifically, do i need a licensed architect to create drawings that I need to submit with my rezoning application and any words of advise during for the hearing.

I am an architect in Atlanta market and looking to change the way the I work with the current builders in the area.

He said i was going to need an engineer and architect to draw up plans and permits.

I wouldn't bother with an architect or consultant at this point just find a good local civil that has done this before.