That is, all the room-mates would be college students for medical, engineering or some other professional major.

This usually entails hiring an engineer/architect to do studies and reviewing/getting zoning figured out.

I'm currently working full time as a Network Engineer but would love to be in the situation you are in and interested in knowing how you got to where you are in your business.

You have to submit plans for each major trade such as the mechanical, electrical, plumbing and most importantly the engineering plans.

From Wiki:"A pioneer credit score COMPANY, FICO was founded in 1956 as Fair, Isaac and Company by engineer Bill Fair and mathematician Earl Isaac.[2] FICO was first headquartered in San Rafael, CA, United States.[3]FICO is a public company that provides analytics and decision making services—including credit scoring[1]—intended to help financial services companies make complex, high-volume decisions.

You, as the owner may be able to act as the developer, you'll likely need an engineer for the street and utilities and most good builders can assist and take care of your requirements.

I haven't used it yet, but I posted some links to some info on this product in this thread:http://www.biggerpockets.com/forums/67/topics/74297-hardwood-engineered-flooring-over-concrete

I'd just get a structural engineer out to see if all that work needs to be done.

My one brush was when I was starting my diesel engine business.

I was under the impression if a HUD bid is accepted on HUD home store it was an algorithm that accepts it, as in no human involved.