I do however, think that it would present a very unique opportunity for a buyer with children whom wants to relocate from the city (easy commute in) and perhaps have additional rental income, OR move the in-laws into the ADU. 

Easy to rent area, close proximity to a variety of activities (shopping, the highway, places of worship, entertainment), price was in my budget and only needed cosmetic fixes as the furnace and central AC were all fairly new.

Overall it’s not as crazy as a few years past, and the IPO effect isn’t easy to measure, yet.  

The IRS doesn’t care how you financed the property, just that you’re properly reporting your income and deductions.There are IRS guidelines for your situation - try searching around google or talk to a CPA

A good way to do this is google Tenant Rights for your states and there are usually easy to understand tenant advocate sites that list them.   

@Michael Bennett you can make really good money in neighborhoods like this IF you know how to manage them properly.

JImmy I could write your script I would elevate myself so far above the rabble that is most wholesalers.. it would be quite easy as well. especially to larger buyers who are looking for some level of sophistication.Most of the larger OREO distress brokers that would have been considered in the wholesale realm are licensed they need to be they don't want to get sued for brokering without a license. but there are some substantial companies that are not licensed. 

@Darrell Braxton sorry I didn't catch this post sooner but I actually wrote an entire post on this very subject and how to properly structure the deal. 

It takes about 5 minutes and is remarkably easy.

Redfin is very easy to use if it's in your target market and is refreshed from MLS very quickly.