The reasons that property is purchased, ranges from commuter appeal, recreation, retirement, investment, sports (fishing, hunting, skiing, golf, etc.)  

@Richard ChangTypically your time frame schedule should be no more than 12 months and depending on your construction finishes, your looking at $200/SF to  $250/SF.Generally you can go to the city's website and pull up Building Permits issues with in the as 12 Months to get a look at the size and valuation in $ dollars of the Duplex's being built.hope this helps.Cheers

I got a letter from the County Public Works Dept. today stating that although my paving contractor applied for permits for our driveway, the pre-installation inspection didn't occur, and therefore, the permits were not issued before the driveway at my property was installed.  

Been through so many of these variables int he area that no obstacle stands in the way any longer, just need to have the proper network in place.Finally, you get what you pay for, always make sure your contractor is pulling permits, do not cut corners, Again, its about building a good team and get references check them out, ask to see portfolios of prior work.

Licensed and insured... are you pulling permits for this work? 

You also have to add on site construction costs, utilities (if they're not already in place), permits, etc.

This article would seem to agree.Is it possible it was another tax section that permitted you the bonus depreciation specifically on GOZONE real property?

@Gerald Harris  if your going to do this you should not be asking any questions of sellers your the expert.. you should research your targets.I get these letters all the time as my family was in the recreational land business in 5 CA counties for 30 plus years and we have literally 100?

Whether that is permitted in all states, I can't say. 

Let me know if you need permits pulled or if it is a small job.