I am hopeful the city council examines the ADU ordinace and opens it up to non owner occupants.

It's a littler nerve-racking for my first purchase. 

Again, others might feel differently here.3) property level due diligence: (takes seconds to weeks per deal): here is where I drill in with the low-level details.a) pro forma popping: I examine all the assumptions, and see if they are overoptimistic or not.

Maybe they'll have a little something to drink or smoke before the meeting, to steady their nerves.

Examine the major systems in the house (plumbing electrical, roof etc)  and determine a budget over the next few years of capital expenses and factor that into your cash flow.

As soon as the due-diligence period starts, the property manager and a property inspector examine the property.

You should carefully examine the numbers for cash flow.

For example, a patient may implicitly enter a contract by visiting a doctor and being examined; if the patient refuses to pay after being examined, the patient has breached a contract implied in fact.

I know banks typically provide an appraiser but in this case I am also examining the possibility of owner financing and would like to have more options.

Check out the article and all their internal stats showing the bias:I wonder if the other major publications will have the nerve to admit the same.http://www.washingtonpost.com/wp-dyn/content/article/2008/11/07/AR2008110702895.html