Picture below.My big plan is, make driving range, build some retail stores , bar & grill inside, generate more revenue.Build a big golf complex so it can build foot traffics. 

once you actually identify a specific property, you need real numbers.in a duplex you may have two of everything (unless some utilities are shared) - two furnaces, two water heaters, two sets of appliances, lots of bathrooms. 

This is basically a possible framework for my semi retirement.  5 year plan Assumptions-My own company is building everything (except electric) and cost savings can be opportunistic on overstocks, returns etc, but my cost assumptions don’t include any savings here.

I am specifically looking to rent out to section 8.

Still, the individuals there are high end earners depending on the specific area.Also, there are no tourist attractions.

We lend at "the lesser of" cost vs As Completed Value, so we have you get your plans and specs together and then we give it to an appraiser that will appraise it "as completed".

You can ask James your specific questions about your project and he’ll give you great advice.

Unless your friend plans to pay if they truly owe.  

Things you want to consider would be what your long-term plans are with this property.

Both are older homes, the 3/3 was renovated in the 80s.2/1 home is prime candidate for a tandem house out back or teardown and convert to Rowhome zoning, (properties were recently rezoned just across the alley tandem homes, ADU already zoned ok) 3/3 is newer, on a double lot, but my thinking is that I could hold these for a while, go through the rezoning process and sell both if/when the neighborhood continues to get hot enough for more density building, possibly work with a contractor friend of mine to get going in this direction, or try to do construction of tandem home behind 2/2 and then adu behind 3/3 home.Are there any resources for spreadsheets or analysis specifically in this realm/that I could show my financiers to calculate the projections on this?