Soft costs are low for me. 

I would like to get some input from experience land developers on soft cost and also how would you approach this deal if you needed partners to do this deal.

After you take them down, clean with soap and water, then use a wire brush to remove any heavy rust - a little WD-40 works great as a solvent to help remove the rust.

No fancy soft vinyl flooring.

I am looking at doing section 8 again, and I will follow my golden rules for section 8:Use the local churches to the property: Offer the preacher a church donation for helping you find a "truly deserving" tenant.I only rented to single mothers: I am adopted, so I guess I have a soft spot for single mothers, they also tend to be better tenants.I only hire locals to keep up with the landscaping: It shows that I am helping out the local community.I do quarterly inspections, but always randomize them: I never went on the same day twice...

Not sure that qualifies as a brush with death.  

, might be classified by the IRS as a "type" like "hard surface" rather than "soft" like carpet.

Keep in mind that this is the first pro-forma that I've created and is probably quite a bit off the mark:TOTAL HARD COSTS Ground Floor – 13,736 ft2 x $210/ft2 = $2,884,560Second to Fourth Floors – 30,849 ft2 x $135/ft2 = $4,164,615Sub Total - $7,049,175.0010% Contingency - $704,917.00Total Hard Costs - $7,754,092.00ESTIMATED TOTAL PROJECT COST FOR STICK-BUILT OPTIONLand cost - $5,000,000 Soft costs - $ 775,409.00 - ($17.39 per square foot)Hard costs - $7,754,092.00 ($173.95 per square foot)TOTAL PROJECT COST FOR STICK-BUILT (INCLUDING LAND) - $ 13,529,501.000MODULAR SAVES APPROXIMATELY 20% ON OVERALL COST.TOTAL PROJECT COST FOR MODULAR (INCLUDING LAND) - $ 11,829,501.000PROJECT VALUETotal saleable area = 29,000sfTotal value of units + retail space = 29,000sf x $550 per square foot = $15,950,000Total potential profit = $15,950,000 - $11,829,501 = $4,120,499.00I would like to know if I am way off the mark, or close with my estimates.

If you can cheaply update any metal fixtures (door knobs, and light fixtures especially) to a brushed nickel instead of brass, it will help give the entire place an updated look which usually translates to the property renting quicker.

Just make sure you don't have any soft or brittle dry wall.