I agree with @Bridgette Delva that a 3/2 should be sufficient.

Great choice.

Just an example Yesterday, my motivated seller’s earnest money put up in a escrow of my choosing, Today, my cash buyer’s earnest money put up in a escrow as well howeva Its with his own title company which is different from my initial escrow, that I had, So tomorrow how will I transfer escrow funds from my original title company & put those with the cash buyer’s title company of choice?

Also, I have sufficient cash reserves to purchase more RE if the opportunity arises, and don't really have an immediate need for the equity in this property, and being generally risk-averse, I'm not likely to immediately reinvest the funds if I sell. 

I'm curious to learn more about personal finance choices that BP members have made in addition to owning real estate.

My answers are: 1) lack of sufficient fund to build now, 2) this is my first investment in R.E. so I don’t want to move too fast, 3) due to COVID-19, sales market may not be as good as rental for awhile, 4) I want the property, or at least its lot appreciate more over the next 5 years.Here is the estimated rent (not cash flow) with a vacancy of 10%.

Is a Purchase Agreement form and a Quit Claim Deed sufficient for this transaction?  

@Evan Dyer great book choice!

This was a hard to fill vacancy and a section 8 disabled older woman looked like a great choice during the 15 minute showing.   

They could demand a replacement of the sewer line prior to approving the ADU application which means there may not be a choice of not doing it anyway.