Keep us posted. 

Hope this information helps - keep us updated on whether or not you decide to move forward on this property!

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..

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

A few things to keep in mind:1.

I mean I would just use some common sense here. 4% interest rate for 30 years?

This means you close your purchase and pray the appraisal with the proposed ADU has the value you think.

The markets regain sanity… I will be able to two properties to rehab with cash.. and have cash reserves… and equity…and cash flow.Possibly from the people who bought from the snake oil guy.I don’t mean to sound rude….

My property management company was "negligent" in keeping moss and algae from growing on the wood steps, rendering them slippery after a rain.  

When people say I am going to do the renovations myself, they usually mean doing everything without proper permits and then they get screwed when they go to sell.If you can find a house hack where the side you will live in needs cosmetic, direct replacement (no permits) work, that would be ideal because you can do both by living in and soft-flipping your side while getting income on the other.