Statute of limitations can be somewhere in the 4 year range based on contract law. 

The property consists of a SFR plus a "in-law cottage". 

In California if you do 8 or more wholesales a year you need a licensee by law

I'm not familiar with OH laws, but you'd want to work with the county or city zoning commission to discuss the process for re-zoning.

Apparently the laws on this changed in 2009?

Which makes me wonder why here in Los Angeles there is an extreme housing shortage, rents are going through the roof, the state recently passed an law making Accessory Dwelling Units easier to build in an effort to mitigate the the housing shortage, property values are at a level at or above the housing bubble peak. 

@Dan Roma Here in MA (and it might be nationwide) it is illegal for a licensed person to pay an unlicensed person.As a Realtor, I'd rather walk away from a deal if it meant violating the law to get it. 

I'm a fresh law school graduate (from Univ. of Fla.

does your city/state have any specific laws about giving notice at the end of a lease period? 

My father in law is looking to partner with me, him bringing the cash, myself finding the deal and working it.