Figuring on a 12' wall width and 8' height plus the 2' dividing wall, you will need 5-4x12 sheets of drywall, 3-2x4x12's, 20 studs, 2-2x8x8's, bucket of drywall mud, roll of drywall tape, screws, nails, paint, and 2 sets of doors. 

@Garrett Christensen nailed it and I have nothing to add.As for rent increase, don't tie yourself to any number.

I prescribe how often dog waste in yard must be picked up (not less than 3 times weekly), how often litter boxes must be cleaned (daily), that dog nails must be kept clipped short to prevent damage to floors, etc.

Nailed it.I just wanted to add, when you are shopping around.. make sure you are shopping with small local,regional banks or credit unions. 

This development site is set to preserve the rich history of the mon-valley, with farsighted views of downtown, do you think this would be enough for you to reconsider this area for your investing strategies?

Hey David, you definitely nailed this one.  

Leading into our next P – Preservation of Capital.Preservation of Capital: Pretty basic premise, in theory, but hard for many people to follow in practice.

There's no doubt that this would be one of the more important things to get nailed down when starting out. 

If the Board fails to properly plan for expenses, it is not up to the Management Company to arrange or pay for unfunded repairs, although they do generally have authority to spend in the name of preserving further property damage or mitigating hazardous conditions that are sudden and unexpected.

He is the hardest working attorney I know (you can tell him i said that) and he will absolutely fight tooth and nail for his clients.