@Gabriel Mesa Fairly straightforward in the suburbs.In the City of Detroit you can NOT use zip codes, you can use Neighborhoods if you know what you are doing, but you need a trusted local to check out block-by-block to finalize decisions.Since there's a lot of rentals in the City, you also need to decide BEFORE you start a rehab, if you are targeting selling to a landlord or an owner-occupant buyer.- You tenant-proof a rental, but need higher finishes on an owner-occupant.

You then estimate accrued interest, add some more for fees, a few thousand for foreclosure fees, a few thousand for force placed insurance,check to see if the lender paid taxes, etc.5- the hoa fees can be hard to estimate also.

I think checking with the city to make sure they are okay with the product from a code standpoint, would be the most important thing.

Having burned with few tenants, I am considering to tenant income and asset verification on top of regular background check.

Last I checked, I think there has to be a set unit count that you have before you would be able to use it, not too sure on that though! 

Inspect your property regularly, or have it inspected professionally, and document these with checklists and signature stamps.2.

I don't know, but you would 100% want to check in with the existing optometrist, maybe they don't get "walk in" business anyways and do not care and wouldn't mind the like-minded neighbors (I've had mortgage neighbors before, and do not care -- I do mortgages they don't, case in point office mortgages across the country, so I wind up getting business from them), but an ice cream shop is going to be LIVID if you rent the unit next store to a frozen yoghurt shop, since that's a LOT of walk-in business that's now getting split two waysAnd then to make it really fun, here's the question I'll throw back at you.

Check out biggerpockets rent estimator that could give you a good idea of what you could rent out each unit.  

We scheduled a separate general inspection to check for issues because our 1-year warranty is ending in March 2023.

So the cost to turn this into a living space might be exorbitant.....check this out with a GC and/or Engineer before you go too far down this road....