I particularly look for properties with unfinished space(generally basements and/or attics) that has good ceiling height.  

Spent some time driving around 77009 and it feels like the Heights/ midtown area 15-20 years ago.  

My target area is Essex county Newark New Jersey (University Heights to be exact).

We are going to dig out the basement to add height and are also going to add an addition.

Bed Stuy, Crown Heights - I wish I could purchase on 20%.

A Queen Anne single family converted to three units in Compton Heights, and a duplex in Tower Grove East. 

Really good areas: Upper Avenues, Foothill, Harvard/Yale, Federal Heights, Olympus Cove, east Holladay, Emigration CanyonGood areas: anything east of 1300 E with a few exceptions, 9th and 9th, Sugarhouse, West Capitol / downtown, Millcreek, Cottonwood Heights, Sandy, DraperOK areas: Murray, Taylorsville, South Jordan, Riverton/Bluffdale/Herriman, anything in the Great Mormon Beyond (Utah and Davis counties), Liberty Wells in downtownBad areas: West Jordan, Midvale, Rose Park (despite what people say), anything west of State St. and north of 3300 SReally bad areas: South Salt Lake, West Valley CityFor investment: cap rates pretty much suck across the board, but deals can be had.

During my searches I came up with some places in Shaker Heights that were reasonable and also Glenville close to University Circle.

For a high super-conservative estimate go square footage times ceiling height divided by 27(to convert cubic feet to cubic yards) thats the max amount of dumpster you  could need, then try to estimate the amount of many hours it will take multiplied by the labor rate you are comfortable with. 

That said, the city has a bunch of requirements regarding parking (covered and uncovered), minimum unit size, minimum lot size, set backs, height limitations ect.