However, a recent lender I spoke with said that was not the case (for that lender), and that they would perform a market study for the units and loan on that.  

Does anyone have an MS Excel model for Property Development Feasibility Studies?

Especially if the contract has any language about the written contract being the entire contract with no outside contracts (Which is a pretty standard piece of contract language)

although I don't know of any specific studies, I have thought about this for the Bay Area.

There is no language about it in my lease.Just curious what people's experience might be on this kind of issue.  

After finally taking the time and studying I passed my ca real estate exam.

I need to setup an LLC with an operating agreement that includes language about the use of outside capital from family and friends in addition to capital contributed by two partners. 

I think there's a few people that you should study and avoid some noise@Ken Rishel Mobile homes regulation@John Fedro Mobile home space marketing@Jay Hinrichs transactional funding flipping@J Scott read everything is written and buys books on BiggerPockets on Wholesaling flipping, don't ask wholesaling  questions on these forums until you've read everything he's written and read his flipping book and his renovation costing bookYou could read my BP blog on seller financing and joint ventures home sellers, money partners, private IRA lenders, and other creative ideasDodd Frank and safe act are not the easiest laws to understand and I highly recommend that you use a registered mortgage loan originatorLastly buy the real estate agent books in your state and know the information. 

If you are okay with living in the duplex, let it season some, and, as mentioned, keep saving up for the down payment on the next one while studying the market and expanding your landlording skills--both on the ground with the duplex and with books (I have a Classics of Landlord Lit" blog post, but you may have burned through the core reading). 

Be a bulldog negotiator and understand the language.