Of course lot topogrphy has a lot to do with what your total cost might me but on fairly flat land the typical 640 sq. ft 2 bedroom one bath unit should cost you an average price of around $65,000.00 whereas I was able to build my units at an average cost of around $10,000.00 and I sold for a 300% gain within 2 months, plus another month to do all of the needed grading.

If you have a short term single tenant lease with a non-investment grade property, I would want the full 6. 

Here are some of the pros and cons to fresh-water vs dry lots I've learned:Freshwater Lots:- Cost about $3-5k more than dry lots- Rent about the same as dry lots - possibly $25-$50 more at most right now- Usually an additional $5k for the developer to construct a 4:1 grade in the backyard down to the canal in lieu of a seawall- The same model on a canal lot has been selling for roughly $15-$20k more than a dry lotSo all that to say, you'll pay more up front for a freshwater lot.

Per my understanding, that means a 2400 sq ft lot would allow at most 2160 sq ft of finished, above grade indoor space. 

Hi Henry, True sub-meter does sell commercial grade water meters which is similar to the city meters.

Being wrong by 1 grading could cost.

If you have to do more than 6th grade math, I would advise against buying it.

I got you covered.The Ultimate Guide to Grading Cleveland Neighborhoods

Another important factor is to know the grade of the neighborhood given property is in.

That's a win for me, I dont think that $200k would be enough to turn that building into a condo grade property and you'll like need to dormer because of the pitch of that attic.