The layout is definantly strange but hey they say 795 is fair and seem pretty confident about filling the units at that price. 

In single families I also want it to have enough space, good size rooms, and a decent layout.

You cant have construction drawings unless you have a civil engineering company with you and you cant have a engineering company with you unless you have a property under contract ..So, i would put that property under contract and then start engaging an architect to get a layout/construction drawings and once that is completed .. close on the land .. 

what if I don't change the layout of the property? 

If you want to be intellectually complete and steer away from motivated reasoning you'll need to lay out the counter positions to all of your assumptions. 

It is all going to depend on the building layout, etc.  

The layout of the home just shows one large space and does not divide the rooms.

The layout in the property appraiser website shows the total area of the home (the rooms are not divided).

Ie can we rehab it, fix and flip, live in it as a house have, reconfigure the layout, does the property sit in the path of progress? 

Most of my investment properties are single wide trailers as rentals that my building crew and myself have gone through and completely remodeled, from new roof, layout plumbing, electrical, drywall, and appliances.