This is conditional upon;•Permission from owner to renovate and improve property•Permission from owner to sublet/sublease the propertyOther Conditions/SpecificsI have the option to purchase the property at any time after the first 12 months of our agreement and before the end of the 36th month.

And if it's not okay, what if you disclose your intentions to the owner of the property and get their permission?

@Alex WangYou’ll have to talk to our local code enforcement and see what is permissible for an ADU.

I am wondering whether anyone has done so with a lender's permission. 

Even fewer banks are willing to let you close in your own name and transfer the deed to a entity with permission.

@Clint McGraw Conventional loan can't be close on LLC name although you can transfer title with lender permission after closing on LLC name. 

I'm wondering if I need/recommended  any permission from city, or since it's my land I can do it, anyway I already have balcony/patio. 

At the same time, I cannot go in except with tenants permission.

That might require a zoning change/permission, and your tax rate might change to be even worse than a non-owner-occupied residential rate (36.70/1000 for commercial/business property vs. 31.96/1000 for non-OO residential; using 2018 property tax rate #s here).If that's what you're asking, you'd want to do a serious analysis on whether it would be better to do that than just keep it as a regular non-OO monthly long-term rental.

I am looking to put an offer on a property, however there are no interior pictures available only a drive by is permissible as stated by the bank.