If you want to know if it is a fair price for your area and this time of the year, simply get two or three more bids.

I worry that a disgruntled renter could see potential deep pockets if they did their research. 

Good afternoon @Kobina GrantWelcome to Bigger Pockets!

@Franklin Marquette Welcome to the Bigger Pockets community. 

This would allow us to come to the table with less funds out of pocket on the front end when starting construction.Is the best way to complete the transfer of ownership through a traditional sale registered with the county? 

You don't know, what you don't know.Bigger Pockets is a great place to find a tax accountant specializing in real estate taxation.

It's probably best to have them pay out of pocket for a smaller cost like this.

I’m no longer house hacking, and all three units are rented out, generating a total of $8,200/month in rental income.

@Brian KingHi Brian, Welcome to Bigger Pockets!  

You are off to a good start being on Bigger Pockets.