We provide a lot of services to new investors including assistance in vendor referrals including contractors, assistance in project management, and budgeting assistance with spec sheets and bid sheets.

The is not a spec build, it's a contract build and is common for the land to be purchased then subordinate the land to the lender for the construction and later to an end loan.

Below is the spec on the duplex.Stories:1Year Built:1982 / Appraisal DistrictBuilding Sqft:1,512/ Appraisal DistrictLotsize:6,617 Sqft/ Appraisal DistrictBoth units are currently rented. 1 unit @ 675 and 1 unit @ 650 (tenant has been in this unit for 10 years).Here is my calculation: NOI = gross income minus all expenses = $731 Total Rental Income: 1,325.00 vacancy estimate: (109.98) gross income: 1,215.03 property tax: (145.08) Insurance: (100.00) CapEx and Repair: (132.50) PM Cost: (106.00) total expense: (483.58)Monthly Cash Flow = NOI - Mortgage = $298$1215- $433= $298That's about $150 per unit with a pretty conservative calculation. 

If alarms are battery-powered, there must be documented records of periodic maintenance.

The building has no house panel, so installation is going to be expensive any way you look at it.My question here is are the older battery powered detectors "grandfathered", or will I need to upgrade the detectors immediately.

You can do a little work yourself and get a list of properties that fit your specs that are absentee owners from listsource and then either knock doors or conduct a direct mail campaign. 

HI everyone, having built a several spec houses and rehabbed a dozen or so other single family and multi family, I've had my share of success and headaches in real estate investing.

I am looking into getting my builder's license in the near future to build spec houses in the sub 200k range.  

My tenant used a battery jumper cable end and an alligator clamp to run juice from the overhead wires and around the electric meter.

ie tenant is responsible for checking the smoke detector battery every six months..