I do have a contractor for a neighbor that I have used on my house who is very inexpensive and his work is good.

By making the fixed asset now a Cost of Good Sold, QuickBooks deducts the $42,000.00 in expenses from the $100,000.00 (the selling price) leaving you with an actual profit of $58,000.00, which is what you will pay taxes on. 

I am wondering if it might be cheaper to just buy an inexpensive car to drive around for personal tasks rather than pay the recapture, but of course that depends on the numbers. 

First thought is to extend the time frame.

I'd like to allow a reasonable time frame for renter/buyer to repair credit, but I'm not looking to be locked into a looooong term commitment.For those that do not/cannot obtain financing after x number of years, what options (if any) do you typically offer?

Lucky for you, you are still well within the time frame.

I also received the sellers schedule C today and he makes 24k year from the 3 units 14k in expenses and 10k profit, thats with the rents being so low, I could make the same exact income while living in the 2 bedroom and raising the rents to $1k/mo on the 3 bedrooms.Does anyone have an opinion on the storage and garages?

By letting people know your time frame, budget and that you have approved financing you should have no problem getting offers submitted when good options pop up on the market.

- Withdraw your offer within your inspection time frame if you aren’t satisfied with your inspection.

Regarding the bank time-frame and refinancing, banks will always loan you money--until they won't!