My permits for my duplex in Columbus are almost at the finish line of being approved, except the reviewer requested that I get a design professional to add the language "UL 263" to the drawing of my fire wall. 

As for your original question about raising funds from sophisticated investors, there're exemptions permitting it to do via crowdfunding.

Dear BPSo One of the units in my triplex is un-permitted or illegal.  

As i know for me - specific to sfh  I wasnt aware at first that some states require rental permits on sfhs when i first started.  

Tracking pulled permits will lead you to the path of progress. 

The City of Chicago conservation department will soon do an interior inspection related to the previous owner's violations so I am not sure that he will even be able to pull a permit until that is done. 

So looking at the job in phases: Permit 500-1000 Demo 3500 - 5500 Sheathing repair 2200 - 3300 WRB 1200 2200 Vinyl - 600/square installed Not sure how many squares you'll need to do but I think you're looking at around 12k on the LOW end. 

I feel very comfortable with everything as far as the actual work and construction portion (it's all work I've done/managed before).What I'm unfamiliar with is the legal process (permitting, inspections, occupancy, etc).

Your local area and permitting authority will make a difference here.

Home builder who I contacted was transparent and expects they will make about $100K of profit and the rest of it will be spent in the construction process including charges for architect, permitting, building, finishing, landscaping etc.