Section 8 is a great way to be less concerned about getting paid, but it also attracts a different type of tenant, depending on what neighborhood class your units are in.

The guts/porcelain design are the only real difference, but all will need to be dealt with over time.

In my area, I go for attractive efficiency that is as bullet-proof as possible.  

We did that in the back of some units and it looks good, does not attract bugs and does not cause splinters.

If there are no comps then you would have to rely on quotes you get from General Building Contractors to give you a cost per square foot to build at that location But without actually building plans designed and stamped by an architect and structural engineer you may not be able to get exact figures but a ball park figure at best.

You should choose design, fixtures and cosmetics.  

My conclusion is that we need a developer with a good design to start something on this undeveloped area. 

It needs to be a renovation loan that is specifically designed to cover both purchase and renovation costs.

Additionally, I presented the business plan in four business plan competitions - placing 1st in a state competition and 1st in a national competition.Therefore, I feel with over 25 years of home building experience in design, estimating, site superintendent, purchasing, land development, as well as marketing and entrepreneurship, equip me with what is needed to succeed in real estate investing!

As for foreclosure defense attorneys and their"innovative defenses", they're just another twist on the previous useless ideas designed to acquire paying clients looking for a miracle....you know, the "show me the note",  the "MERS transfers are unenforceable", etc.