However, those rents may be market, but if the tenant pays for electricity or water, you need to back that out of their rent (utility allowance).Tenants are not supposed to have a co-pay >29% of qualifying income and the voucher addresses the difference.For a small investor, I wouldn't target them since I stated the major rules, but there is paperwork if your property has a use restriction requiring income qual. 

I guess the original empty lot should still have the place to connect electricity, gas, and water.

In NJ, permits need to be pulled if you are adding plumbing or electric, for example. 

Fixing up that first property really gave me the bug for doing some investing.My business partner and I are looking to get into Real Estate Investing within the next year.

Always have a  maintenance company available for repairs, ac/ electrical issues, heat/gas, etc.

My General Contractor secured all the permits, and pretty much finished all the plumbing, electrical and framing.  

Like a medium renovation is $15k per sf plus major items - like HVAC, roof, foundation, or electrical. 

Also, tenants in New Orleans often pay sewage/water, and always pay electricity.

I always have phase 1 pay offthe land, fence, Electrical, sewer, grading, etc.How many phases or units should you build to start?

Dishwasher, fridge, stove, roof, electrical, plumbing are huge expenses that if you do not properly allocate for can wipe all your "profit" out.