@Matthew Shay I would talk to a net lease broker about tenant and buyer demand.You can develop the site with utilities, but the structure would differ based on the tenant.PM me if you'd like an intro to a couple good net lease brokers.

Since being in California I have helped a couple flippers remodel homes and have learned more about real estate and I have decided I can utilize my construction experience/know how along with an aptitude for maximizing the potential in a building by adjusting layout and achieving the best bang for a buck possible.I've been working on a business plan and am here to get feed back and hear experience from people who have done what I intend to do. 

That was a couple of years ago and depending on the amount they may utilize tax assessment instead of appraisal.

I happened to utilize Veteran's United.....Gerry Landry was my guy over there.

If both properties have full access on their portion, without a need to utilize the other half, then there is no need for a shared driveway easement/agreement. 

Mostly paint carpet and some common space clean up. 

In which case, I would need to get bids on total tear down plus stick build, utility hookup, etc.

For some of the properties all of the utilities are built into the fees which you'd need to build into the monthly rent and could be a substantial amount.

What formula should be used or should I say is there a common rule for investing at that level for cash flow?

However, everything else about this property lines up very well, and I want to pull the trigger or move on asap, since I've already analyzed it forwards and backwards.Here are the details:625k PPcurrent monthly income $5,600, annual income after expenses (utilities, taxes, maintenance, repairs) is 46k, which would cash flow after debt service, but not a ton.However.