By the way, 3 of the 4 have been rented since I owned the property so yes I suppose the 75% rule could apply then.

I'm being nit picky on purpose.Also, the Standard Lease doesn't apply to commercial tenants, so if the property under question is 6+ units, that might be easier.What you have described is Property Manager that has a Lease Option on the property. 

Add in many/most jurisdictions are (I believe incorrectly applying the law) mandating the existing structure be rent controlled (assuming it is over 15 years old).The reality is virtually all RE investments will do better than adding an ADU.  

I think it is human nature to feel like we need to get the best deal with the best/highest "immediate return".

Like Tarik and Christine.. or than merril or any of the others. its a natural progression and the HUGE money is made selling the information. to be fair and balanced like Fox news.. there are always a % of folks that come through these trainings that do quite well and the money they spent forced them to take action.. its just the other 90% who spend the money and well never really do anything..

The renovation costs may include a contingency reserve and renovation-related costs.Contingency Reserves:Contingency reserves 10 % required for any unforeseen cost overruns that may occur during construction.Unused contingency reserves that were financed into the loan will be applied to the principal balance of the loan.

Quote from @Marcus Welson: Hello everyone.I'm trying to breakdown how an IRS 1031 extension notice applies to a 1031 exchange.

However Becoming a Part of Renatus or Becoming a Part of a Different Real Estate Investing Education Company, it all comes down to applying the knowledge that is learned.

Don't know if any of those apply to you or not, but good to check with your lender today and get them to run your credit so you know what your targets are. 

FHA loans include oneproperty per FHA loan, owner occupied for at least 1 year, and can apply for new FHA loan in 2years.