Land development can take years and have a lot of upfront costs such as roads, sewer, engineering, permits, hearings, etc. 

I assume you'd have to pull permits for this kind of work, so factor this into your scenario.

Determine whether a permit is required and any restrictions they may have.

I am getting ready to list my first two doors and have four more awaiting permits for renovation. 

I am 85% completion on my first property (2 doors) and have two more in the permit stages.

Single family usually is done in anywhere from 4-6 months once you break ground, with a few months of design/permitting prior to that. 

It requires permitting, inspections, etc. and would need to meet current codes.

@Peter KnepperWe just finished designing the ADU and currently in permitting process.

I've read about local building permit applications and approvals and still wanted some additional insight.** NOTE: RESPONSES NEED NOT BE SPECIFIC TO WILMINGTON, DE AS ANY MAY STILL APPLY TO MY AREA **Thanks in advance ...

Other units in the same street have sold within 10k of this price but they're in better condition and one has permits already.