An alternate way of estimating costs is to compare it to rough costs and to find comparable titles. You say you want to start with FTL - Faster Than Light, plus a lot of features.
FTL started as four people with multiple months in their basements (we'll simplify to 1.5 FTE) followed by $200,000 kickstarter money in Shanghai, China. Combined with everything it took them over a half year, if I'm reading that correctly. In the US you need to estimate 10,000 per man-month. I'm not sure what that will buy you in China, but Google suggests it is about 20% cheaper. 200000/8000=25 man months. It took four people about six months, so that sounds about right.
Then you are asking to roughly double the size in new features, so we'll double that to 90 man months. Plus since your project is larger there will be more experimentation and more administrative costs, making it about 120 man months.
From my own experience in smaller games, that number sounds about right for a FTL style game. You can look up various similarly-sized games and see if that feels about the same scale to you.
The game would have a very simplistic feel to it, and may or may not be fun (that is up to your design and implementation).
You want it in the USA, so the 120 man months is around 1.2 million dollars for your simple little game, if you are paying for it.
If that means the development team is you and your nine other close friends, all of you willing to work about 2000 hours on it as a full time job, it would take about a year.
Edited by frob, 04 December 2014 - 10:43 AM.