He knew the person selling this property and asked if we were interested.

If you have to do an ARM, have a Plan B to pivot if you need to sell or refinance. 

From google: “The Fair Housing Act (FHA) does not apply to certain types of rentals, including: Owner-occupied buildings: If the building has four or fewer units and is owned by the person who lives there Single-family homes: If the owner rents or sells the home without using a real estate agent, and they own no more than three homes Religious organizations: If the property is only available to members of the organization's religion Private clubs: If the property is only available to members of the club Senior housing: If the property is designated for people who are at least 55 years old Even if a property is exempt from the FHA, it must still comply with the law's ban on discriminatory statements, notices, or advertising.

You’re going to get a lower selling price for occupied properties just as you will get an even lower price for selling a portfolio of homes.

Your wife as conservator/guardian has an obligation to her mother and selling the property to herself creates a conflict of interest in that she stands to benefit as the buyer and is also making decisions for someone else as the seller.2.

You have to be an active manager and many current owners are not wanting a second job and are selling.

The owner has taken it off market and I'm just trying to explore my options of selling it off market for a deeply discounted price.  

In normal times i would think selling is typically the smarter financial choice, but at the current time keeping may have a significant finance (due to low interest rate) advantage.Here is a list of why adding ADUs in my CA market is typically a poor RE investment:1) The value added by the ADU addition is often significantly less than the cost of adding the ADU.

I'm very likely to sell the property but wanted to gather opinions from this forum first.

In early 2023, we decided to sell the property as the market had appreciated significantly.