I've purchased and flipped a few single family homes, and I own a few apartment buildings, but have never taken on a rehabilitation project like this.Admittedly, my partners and I don't know what the property's best use is, either as a mutli-family with rentals or as condo conversion, because we don't know what the space will allow, so I was hoping to get some feedback on where to start and, more importantly, if anyone has any recommendations as to architects/engineers/contractors that they've worked with on similar projects that might be able to draw up some potential plans.Thanks in advance,Ari

We have architect's drawings but didn't pursue it any further.

Once you have closed it is time for you to get your drawings done by an architect.

HI Chad,If you're going to drop $30,000 to $50,000 on something permanent, it might be smart to have an architect or landscape architect draw it up, and if you want a better shot at (1st) class workmanship, hire a GC who does this for a living.Not saying the workmen you find won't do a 1st class job, or use 1st class materials, but an industry pro should be able to sift through the DUDS and self-proclaimed experts better than the average homeowner.Also, asking an architect or landscape architect who does homeowner pools which subs are good for which trades might yield a better short list.Do you know what a "Slump Test" is.  

I need some advice in this regard (realtors are also welcome to connect), I prefer to buy a big land (3 - 10 acres) so people who rent can have the privacy and also for the possibility of building more cottages in the future.I did a meeting with one architect and he gave me an approximate price for the construction but I'm also considering prefab houses since it's cheaper, are prefab good choice for short term rentals?

Hi Josh, I'm an architect and developer based in Barcelona and Reykjavík.

No, I just think it's kind of stupid to believe that an Ayn Rand novel about an architect is going to make you a better investor, however adored Ayn Rand is by so many people.

(I'm an architect and have already done the zoning/ liquor license verification.)Seller is asking $275k.

Or consider this the seller wants an unrealistic price for his buildable lot but he doesnt have time to wait for his buyer Wouldnt he be better of to take part in a Joint Venture deal where a group of investors decide to build a spec house or multi family units,maybe some nice townhomes or a duplex on this building site.The lot owners contribution as a co investor is the lot itself,everyone sits down and they establish a realistic value for the lot ,the buider and architect present a proposal for the plans and cost of construction, a cost for the project is established and an exit strategy,Wouldnt the seller of the lot /s be better offer participating something like this and attaining the target profit he wants to make?

I'd seek the help of a real estate attorney, an architect, a contractor, the leading commercial agent, the municipality or planning department, a CPA, a banker (if necessary); and, finally, a loving wife and family.