Very difficult to know how reliable it is for any given property...Sometimes the property appraiser site just lacks certain info entirely (like living area sq footage)...Sometimes I've seen docs at the building office that conflict with what's in the property appraiser site/stuff that has actually happened, been reported, and should be updated in property appraiser site doesn't make its way there, or is very delayed...And in some cases the current/previous owners made modifications on the property without ever going through the proper process so the county just doesn't know to update the appraiser site. 

I would target a specific type of home, such as a 3/2/2, with similar sq. footage in a specific area, and then finish them all out the same way. 

Hey JoelThe biggest number one concern in what your wanting to do is square footage there's a minimum that must be met, and there has to be enough to accommodate the necessities of living comfortably so figure the square footage and divide by 2 what do you have?

I searched Zillow and Realtor.com for a listing at your price and didn't see anything come up in Norman with the square footage you mentioned.

We have helped investors buy a small single family home (700 sq ft) and then helped them add s footage, to increase the value and max rents.

@Rachael Scott MHA fees are based on total square footage not just the lot coverage.

The appraiser will make value adjustments based on differences in features of the property compared to the 'comps', (ex: bigger square footage would be a positive adjustment). 

Example you have to upgrade square footage.

Total square footage of the complex is 2,500 SQFT so I figure average out the apartments 800-1,000 soft each.

I recognized the opportunity because the square footage of the house seemed large for only two bedrooms for the area.Best of luck!