Here's the set up and the items that I think I have checked off:1- I've made my living as a custom home builder for the last decade, so I'm confident that I can build townhouses/duplexes on infill lots.  

As for the other items, if you have the storage space on your property for it, it would make sense to save it for future properties if they are in good shape or can be restored to good shape.

Certain items can be added back.  

I make minor improvements as I go, sometimes just taking care of deferred maintenance items. 

@James M. if it just needs a few items cleaned up or fixed see if the seller will do them before the appraisal or let you do them.  

I'm working my way through these items and recently was approved for a business card with American Express (it wasn't free, though). 

I could give price range for standard items - roofing cost/square, paint cost/sqft, flooring cost/sqft - but none of that will mater with a project this large.

Then hire a separate local person--could be your Realtor, home inspector, different contractor--and make them sign off on every item before releasing payment.  

These items are all priced into the market and you can add or subtract to come up with your own. 

Those are two different items and will vary depending on the financing scenarios you run.What are you assuming for financing and expenses?