Then I stumbled on Bigger Pockets and see if may just be able to do this.I do have a degree in interior design with a minor in architecture so I'm hoping that will be helpful in my future plans.

So basically the inspection is probably to make sure the fire alarms and overall condition of exterior and interior of building are up to standard of living conditions it should be.As far as the illegal in-law apartment,, are you renting that out.. extra... 

Does anyone have any good interior painters in Houston they could refer?

Appraisers normally measure from the outside of the house for the gross living area and make adjustments for interior variations.

My contractor was given one of my units already 1/3 done, it needed a beam in the kitchen, the cabinets, new flooring, windows trims, interior doors, tiles in the bathroom and put up bath vanities and paint the unit.

Since carpet needs to be replaced and the interior of the house needs to be painted we figure we wouldn't ask top of the market price.  

In that case, it will wildly depend on your comps in the area and how much you put in for rehab and interior upgrades.

If I end up closing on this property, I will be renting out the bedrooms to reduce my current living expenses drastically and build MY net worth instead building someone else's by paying rent.Property Info-SFR 3 BR/2BA with detached 2 car garage and large yard-1,309 sqft (6,100 sqft lot)-Purchase Price: 400K with $0 @ ~3.5%Improvements Planned (~$2500 is my estimate)-Fresh paint on all interior walls (plan on doing this myself)-Fresh paint on the inside of kitchen cabinets-New flooring in the two rental bedrooms (undecided on what type and who will do work)-Have tile and grout cleaned throughout house-Minor work like securing slightly loose trim pieces-Backyard clean upMonthly ExpensePITI: ~$2,217Utilities: ~$125Vacancy: $100 (5%)Repair/CapEx: $100 (5%) (big ticket items are fairly new and in great condition)Total: $2,542Estimated Monthly IncomeEach Bedroom: $700 ($1400 total)One garage parking spot: $25 (not including into final calculation as it is not a definite)Total: $1400Out of pocket: $1,152I was paying $1,435 in rent so this would equate to reducing my monthly expenses by ~$300 ($3,600 yearly).

Interior the units are in decent shape.

A little about myself..I've been working in construction management for over seven years in South Florida, ground up and interior construction.