Is the square footage enough for everyone to have one bicycle or two bicycles?  

You cant put that $29 a square foot Home Depot granite countertops in a kitchen here.

I'm not sure if i not doing the search right or if this is just one big red flag.

Agreed with Jon...I would never trust an architect (or anyone other than the actual contractors you'll use) with cost projections, for lots of reasons:-  He doesn't know the contractors you will use-  He doesn't know if you'll be be GCing it yourself or hiring a builder-  He doesn't know the finishes you'll be using-  He doesn't know your ability to negotiate prices-  He doesn't know your level of experience and ability to make cost-effective decisionFor our most recent project, I had architects projecting $125-150 per square foot for construction. 

However, their realtor tells me that this will raise a red flag with the lender.

Who can negotiate with the bank for lower payments and possibly work a deal, on the 2nd mortgage, without raising a red flag with the bank?

Bottom line a quit claim deed is a red flag it is not necessarily a deal breaker.

I like Freakonomics Radio, Marketplace, Marketplace weekend, Tim Ferriss, Lifestyles Unlimited, Dave Ramsey, Dave Ramsey EntreLeadership, and Real Estate Red Zone (Texas real estate). 

We offer maximum flexibility (including picking it up at the rental unit) but retain the right to standardize to a required method.Our wording:Delivery of rent: All due on the first day of each monthly rental period, it is absolutely the responsibility of the tenant to mail/deliver rent payment (cash, check, money order/cashiers check, deposit at Red Canoe) to (name and address) or at such option or other place as Landlord designates.

Case Study:I found a property located in a very wealthy area (Red Bank) that is an estate sale with highly motivated sellers that is being sold in "AS IS" condition.