I recently contacted them and they spent a lot of time trying to sell me on their mentoring program that costs an arm and leg.

They are typically the opposite of value adds in that they typically have a hands off cost more than the value added.Your broker is correct that Fannie/Freddie are not to use the rent from the ADU. 

We are also going to repair and clean the home at no cost to the seller if he is There is also an addendum that says they are also entitled to the profits (split with us) if the home is sold by us. 

If you plan on keeping the property, all you need is an LLC which you would be the sole member of, unless he wants to be in it too, so share all those set up expenses, ask him..

It costs $300 a year in MD to maintain an LLC. 

Yes, there are many free resources out there, but books are one of many low-cost educational pieces that pretty much everyone agrees are worth the cost.Happy reading! 

Many investors think that if they don’t qualify for REPS status, they won’t be able to benefit from a cost segregation study.

VA construction aka One Time Close is a great program to buy and build on a home.Keep in mind that some of the construction costs would need to be paid prior to closing.

Hey Jesus,THis sounds like an awesome set-up!

Make offers on both properties at a price point that makes sense for you to make money and considers the cost to renovate & the vacancy rates.