.- basements are hand dug and therefore usually not deep - usually no structural issues (much more in 1960s buildings) but sometimes poor surface water management leading to damp spots.

Knowing the age of the home I still tried to hope (never a good strategy) the HVAC and water heater would hold out for a couple of years.

There is only so much inventory on the water - value will keep rising as inventory stays scarceOr would you run?

If it doesn't need water remediation and depending on where you are in the country you should expect to spend $25-75/sf finishing the space, which again depends on what it needs.

Tampa is land locked by water on 3 sides, demand will continue to surpass supply.Little but about me, I have personally owned, designed, renovated 16 homes in Tampa in the last 3 years.

I had the property for 3 months, inspected and watched over heavy sustained rains, but only a few days ago I had water pooling near the spot in the basement. 

The property value has gone up quite a bit since I've bought it a year ago and am installing new efficient tankless water heaters for all the units, do you think I'd be able to refinance into a conventional loan and be able to reuse FHA ?

What is involved as far as cost and scope of work to separate water meter/billing for a duplex?

We contacted the county health department and the water department: NO record of where the tank and drain field is located in their files but they both confirmed there is NO SEWER in the area.

I'm not looking to sell but rent and from doing research I should be able to get 1100-1300 and renters pay their own utilities and water/sewage.