Officially converting a single family to Multi Unit is a lengthy process where you might end up with nothing.I would call zoning and get more information on the area. look at you lot size etc.... 

Can you give a description of the size of the project?

The screened in porch slider was removed and the space was insulated, windows and walls put up to make it part of the living space.

The screened in porch slider was removed and the space was insulated, making it part of the living space.

What programs/tools/resources have you found helpful for things like:Finding areas that are most likely to increaseFinding the best size or room numbers to optimize profitAny other areas that would be good to knowThanks in advance

As @Scott Runyan mentioned, the size of this deal seems better suited for a JV or partnership than a traditional syndication. 

You are fully correct in that those expenses should be a flat number depending on the size of the home, vintage, and how well you capitalize the property up front.

The tenant screening process should be consistently applied to all potential tenants and is analogous to the underwriting that all investors have gone through when seeking a loan.

I would like to have my own tenants screened as well as give me some time to do some work on the unit and add some upgrades for future tenants.Thank you for any input. 

I currently own a home, but I have no experience in the rental realm (finding/screening tenants, rental contracts, basically everything).