Just keep in mind that this is still a Landlord-Tenant relationship and that your points need to be well communicated and understood amidst the side conversations about the Caveliers and Indians game. 

It's understood you and your father have the experience to undertake the conversion but you must factor in the cost of drawing up plans and getting permits to convert into two new apartments.  

@Benjamin Cowles  Understood.  

@Jesse T. understood about the 50%, but if you pay cash for everything and have no financing costs, it's pretty easy to get a property to meet the 50/50 rule. 

The delay was due to rehabbing the property- which I was told and understood.

She then said to take a day to think about it and call her back.Am I way off base here or is this just a lazy agent, a shady seller or something normal that's only understood by "real" investors?

The SPD is required to be written in a language or format that is easily understood by participants.

The ones from the Philippines understood my scripts and my business model.

I have done it many many times.or like in our new construction.. any agent that brings me the lot its understood they are getting the list back..

@Michael Le - Understood.