I will run through a real underwriting and see how the cap rate assumptions affect this. 

There are literally 1,000's of videos from hundreds of landlords going through it in these kinds of neighborhoods. 

I manage a hand full of STRs here in Central Oregon had some tweakers come through and do about 10k-20k in damages probably. 

I would love to connect with someone currently going through the process or who has completed the ADU build.

Could the Seller just pay some of the vendors through the net proceeds?

Anyhow since I'm paying cash and don't need to get a mortgage on it should I still go through a proper title company to get it the title switched over to my LLC?  

They believe putting it on the MLS will make the most sense to them.Like everyone else, we are always willing to partner with people that want to learn through experience and find more propductive ways to find deals.There is money to be made in real estate in this current economy, if you find deals that have not yet hit the MLS.

Does anyone have experience going through this? 

He said we would utilize a payment service to ensure payments are made, and also a "performance deed", so that if they stop paying I could reclaim the property without going through a year-long foreclosure process.  

I got a taste of real estate and have been learning a little more through YouTube videos, webinars, etc.