I would think I'm small potatoes for them and the form 3115 is so ridiculously thorough that i think it all but negates audit but we shall see :).I will report back when/if i get it and what the timeline was/is, I was holding out hope that someone had some information on this but its been crickets.

Why add an ADU if it can be purchased cheaper?

Thank you for the information.

:P There isn't anywhere near enough information in the original post to provide specific advice so I asked the poster to reach out.  10,000 foot overview the best advice would be to speak with a knowledgeable INDEPENDENT insurance agent and be as forthright as possible with your situation. 

Purchase price: $1,450,000 Cash invested: $2,000,000 Sale price: $2,300,000 300+ lot RV park that is located outside of the city limits of Addis at the intersection of Hwy.1148 and Charles Ory Road (about two miles from Dow Chemical on the West Baton Rouge side of the West Baton Rouge/Iberville Parish line).

Potential for $80/sq ft is there,if it’s actually cash flowing Im seeing a purchase price of $207,500.

For me, I much prefer to purchase from wholesalers or directly from the owner.  

The BidRoom can bring the price down based on volume and margin of purchase.

My wife and I are looking to purchase our first property with hopes to turn it into a STR.

Purchase price: $365,000 Cash invested: $115,000 Sale price: $530,000 Fix & Flip What made you interested in investing in this type of deal?