If you're in contact with the owner/seller directly, and you don't feel there is a lot of competition (off-market), might as well start with an LOI to lay out terms before drafting a contract.If you need the offer to look compelling because other buyers are circling, a PSA would indicate more motivation on your part.

It's difficult to navigate and not intuitive. 

They prioritize properties with versatile layouts and multifunctional spaces that can adapt to their evolving needs, whether it's a home office, workout area, or entertainment space.

The current layout lacks bedrooms, which may make it harder to sell to families.

Looking at this kitchen (Rehab/Flip deal), I know how to price out work and deal with subs but how are people coming up with how to redesign the layout?

Software used for maintaining property financials is intuitive and distributions are made timely on a monthly basis.

Currently, living room and dining room is one large space (open layout). 

If the layout is good, and the cabinets are solid hardwood, it seems a shame to replace them.

Focus on modern, efficient layouts that maximize living space without extensive structural changes.

There was more ABS than cast iron sewer pipe (replaced over the years) and copper runs but the layout was changing so location of plumbing features had to move.