Without complete financials up to that point, extra work (and headache) will be required to get everything straight after years of failure to keep complete financials.There also might be an asset protection wrinkle by not maintaining complete books for an LLC, but I won't comment on that as I'm not an attorney.

How much did you wind up spending in attorney fees, etc?

Since you generally won't know for sure when a party will end, you can try to protect yourself when entering the party by buying into the type of property investment that will suffer less should the party come to an end.

Find yourself a good team who builds ADU's has a project management team and of course has all the licenses and insurances to protect your property.Quote from @Michael Adamo: Hi BP Community,I’m exploring adding one or two ADUs to a property I own in the Miracle Mile area, near 3rd Street and La Brea in Los Angeles.

That is just a one off report so before you spend a buck fiddy, it is a good idea to visit a couple TK operators in person first.

However you do have a new government that seems committed to cutting costs, cutting defense spending, and getting us out of wartime efforts. 

Would we be able to spend $1k in aquisition costs to get to that level?

It's good to hear others are having success, but I would check if it works in your area before you spend the $150.I don't know if this would apply to you, but some folks think that FF works similarly to AirBnB or Vrbo where they will push resident requests to you.  

Aside from that the biggest value add areas I see are as follows: Kitchens, Bathrooms, decks/patios (if added), additional rooms/bathsKitchens and bathrooms tend to be the go-to, but all of those can help you get the most bang for your buck. just keep in mind that if the area is already of high quality, then it may not be the best area to spend the money vs something that is blaringly in need of an update.

I have had no luck trying to propose seller financing through realtors for on market listings.Bottom line, either spend some time and/or money marketing direct to seller or networking with investors that have been around for awhile.