Subdividing Lot and Rebuilding Existing Bungalow with New Duplex

Hi Everyone,

We are looking for some advice here on subdividing our lot and taking down our current house to rebuild a duplex on it and stay in one and sell the other.

Current House SQ Footage: 1092 sq ft (Main) + 1092 sq ft (Basement)

Lot Size: 60 ft x 120 ft

Zoning: RC-2

Price to Demolish House: $50,000.00 possibly?

Rebuilding of Each Duplex: $150 per sq ft with unfinished basement at 24 ft x 60 ft duplex build = $216,000.00

Permits: $20,000.00 Approximately?

Hidden Fees?

We've notice that some landlord does joint venture with home builders to have their home rebuild but we are not sure what does the usual/standard joint venture agreement includes as well as the profit splitting.

Hope that we are able to find our answer here.

Thanks.

Alan