Start with the potential net income to determine the value and work backwards from there subtracting development costs, building costs, commissions and interest expense.If the project looks feasible from a financial standpoint the next step is to check with the city or county planning and zoning department to get an idea if your concept will work, if you can build what you would like to build and what is required for all approvals including site plan, building permits, proffers, water/sewer tap fees, bonding requirements, inspections, setbacks, lot coverages, parking requirements, height restrictions, C/O process and time frame for all approvals.You also need to check with the utility companies and get an idea of availability and cost estimates from them for water, sewer, power, gas, cable, installation and connection requirements, tap fees, hookup charges, transformer location and relocation, power line and power pole relocation issues.

I only purchased gas with it and paid it off in full every month.

Garage already has gas/electric/water.2.

I suggested installing a gas wall heater, as it's low cost to purchase and install, and being that the unit is small, could be an efficient option to heat it.

Prior to doing this, is there a rule of thumb you follow allowing you to estimate (for example: electricity / gas / water / per unit, cost) before going into further detail such as using the tip Stephanie suggested?

No gas bill no maint.. last forever at least body will..

Our industries are "outdoors" (BLM is relocating its headquarters from D.C. to here in GJ), tourism, agriculture, oil & gas.

You'll still need insurance expense which will be higher for STR, you'll need to pay for cleaning after each tenant, you'll need to buy furniture, pay for utilities water, gas, electric, trash.This property looks like a flip my guess is the county assessed before it was rehabbed, TX property tax is usually 2%+

(Electricity, Gas, Trash (if applicable)).

If you have gas, one option would be to put gas logs in there.