I know this is a totally random question, and it's obviously going to vary greatly from area to area, but I need to get a rough idea.
The housing market in my city is completely out of control. I have the opportunity to purchase a piece of property in a highly desirable location that is already zoned for a duplex. The existing house will have to be torn down, and then we will build a duplex, and sell one side and live in the other.
I don't even want to think about the initial outlay, because I'm already sick about it, but it is a great opportunity. So, has anyone had any experience with this?
Say a duplex that is 2,500 square feet per side?
Thoughts, advice, experiences?