I'm looking to develop a vacant residential lot in Calgary Alberta with two prefabricated units. The long term plan is to live in one unit and use the other for cash flow in the long term.
There are lots of unexpected costs with land development and new construction. Examples include soft costs (arch, engineering, surveying, permit costs, etc) and hard costs (connecting utilities, clearing land, etc). Always have a reasonable buffer to take into account any unexpected
costs. Best of luck!