With 8' ceilings you should not have to dig out the basement, and with an RT4 zoning, provide all other issues (egress, etc.) are met, you should not get much (if any) resistance to adding that unit.

This ensures you can provide them with a clear and accurate scope of work.

There are too many factors to consider to just provide base rates for what you're asking. 

For on the ground evaluations, I rely on local contacts: agents, contractors, or even property inspectors to provide walkthrough videos and detailed feedback.

Just stating that waiting will also likely make the cost of what you want to buy go up if the last 98 years of real estate data provides the future direction.

Our mission is to provide new and affordable rental homes across Indiana.

I  have a detailed reply above that explains it and provides the code citation to read as well

It looks like you are doing an affordable build based on the cost but hard to say since you didnt provide info on the build itself such as square footage and finishes.

Also, providing value to others at a high level will pay off for you in the end if you stick with it.

@Timothy Frazier  This will be tough as the HML will want a 1st position loan, but so will the other lender providing the rest of the funds.