Once you figure out if its even feasible from a legal stand point you can get estimates for the construction etc... to get your ROI. 

Some exterior walls were 2x3 stud construction and and 2x2 was not uncommon with many manufacturers for interior walls. 

My father owns a construction company in my hometown, so I have spent my fair share of summers swinging hammers and digging holes.I am employed as a full time engineer and I am looking towards real estate to supplement my income and build a more stable future for my fiancé and myself in this exciting stages of our lives. 

I have priced construction, and in in Los Angeles you're looking at $125 to $170 per Sq.

If you purchase the property with cash and then want to refinance the property most lenders typically require either 6 or 12 months "seasoning" period.  

Typically looking for 10-18 percent return after expensesHope this helps.

I have most of my experience in construction and real estate.  

Thanks Account Closed, what kind of company typically does these types of inspections?

My goal is to quit my 9-5, which I been at 10 yrs and create a six figure income thus I can focus on my desires to form a construction business.

Not really in "the trenches" at the moment, but I will say that their seems to be a lot of multi-family projects under construction.