You mention going on title and taking over the loan - is there an existing mortgage?

Could I fund the purchase using a bridge loan with the assumption to sell my existing home ($1.5M)? 

To evaluate Real esteate deals for creative financing, start by identifying seller motivations i.e. financial distress, desire for passive income, do they need a downpayment on their next house, etc  and property factors like equity or existing financing terms.

You'll find a ton of kind, supportive, and helpful people here.Are your existing 7 properties currently in Chicago? 

Fed's can talk all they want about "creating" however millions of homes, it changes nothing unless Harry Potter comes into office and shezams them into existence. 

How can you find out if an existing mortgage is assumable?

They need to do all their due diligence including understanding the value that will be added by the ADU, the finance options available, the consequences of adding the ADU (rent control, property taxes, rental limitations, etc), etc.Good luck As with all things, it depends on the investor and the equity.If they are able to leverage existing equity to buy it under a HEL or HELOC, then they are adding equity with no out of pocket expenses, and adding immediate and longterm cashflow to existing stock.We like ADU's because there isn't more land being created in our city that is landlocked...but there is more density available to those with large lot under-utilized sfh.In my market, it typically costs $2 to add less than $1 of value on single build ADUs.  

The comps that do exist seem to be performing at a high-levelMarket Overvaluation?

The right wholesaler that knows how to properly calculate a SOW (scope of work) to gain the rehab budget, generate an ARV from local comps and not want to get rich on every deal is NOT easy to find....but, they do exist.

Here is a little more info related to my question:My (note: "my" means my wife and me) daughter likes her job and finds it rewarding and fulfilling, and I am putting no pressure on her at all to change careers--my job has nothing to do with RE.