Property needs about 40k of work (mostly to update bathrooms, floors, etc).

I am in Chicago and looking to get into the condo real estate space.

“We’re also seeing creative land plans that provide common area open space to offset smaller lot and home sizes.

Anyone had any experience converting downtown commercial space into apartments?  

After acquiring floor plans what is the next steps to getting it built?

I bought a place that was all section 8.  3rd floor tenants moved out fairly quickly. 

The job requires cutting through the existing roof, adding LVL ridge beams, and framing the dormer and remaining attic space. 

All new floors/ carpets and molding through the whole house.

We are not going to be able to get into the property to inspect so we want to see if the numbers work with a worst case scenario of having to redo everything (roof, electrical, plumbing, flooring, kitchens, bathrooms, etc.) with top end finishes. 

I am planning on 3-4K for exterior and interior paint, 3k for flooring, 4k bathroom remodel, 2K to paint the kitchen cabinets and install new counters, and then 2K for Misc items.