ROI is a percentage amount based on how much money you put in to the deal and how much it returns. i.e.

So, the realtor says that the owner had planned to knock out the pantry and put in a spiral staircase to access the room [a ladder is used now] As my six year old self starts pondering the possibility of an old chest hidden there with a map that leads to great treasure [yo ho ho and a bottle of rum!]

We have looked at expansion in Bloomington ourselves, but it is quite expensive, and there are some crazy laws put in the place by the city there, which appear to cause major headaches.  

Since the range was so wide and I'm not going to be doing it this year, I did not put in the effort to get a more precise figure.But my point of concern with buying a lot and building my own duplex is how to make it cash flow on par with the units I purchase and rehab.

After analyzing the numbers, he mentions that he might just put in an offer for $70,000 because he has nothing to lose. 

But that was before the landlord laws were put in place (he would evict by showing up and removing their door) and it was a herculean effort to stay on top of them.  

He’s willing to put in any number of offers at my price and knows the unique things I ask for that buyers will pay for in Vegas.

For me, my typical deal is a house thats worth 150k that I'm able to buy for say 90k and put in 15k or 20k in rehab.

It will allow you to put in someone that YOU have vetted, and it will allow you to properly address any rehab requirements necessary for the property without deferring it any further. 

Also, I believe they only let you borrow what you've put in and gains from that, no matching funds are able to be used towards it.