Hi all, I am looking to buy a property where I want to construct a 3-story ADU in the back of the property (replacing a garage). 

To even find one deal you need to do marketing and build a buyers list, but what are you buying with?

I am buying an STR in Tennessee.

Meaning they buy the materials and provide the labor and then make a receipt showing the total.

One of my neighbors met with me the other day, who is retired along with her husband and they plan to sell their paid off 5Br with completed basement house valued at $750K in the same neighborhood and buy a smaller unit near Warner Robins GA.

your onsite manager is a huge component of your success. working with them so they understand the goal of the property is crucial for success. buying in the right area will boost your profits.

"Let me buy you a pack of gum.

and pay them off with that, BUT if he were to sell the property, he would rather much sell it to us (his family).so my question here is if I were to bare interest in buying his property (it would be my first) so it stays in our family line, what would be the best way to purchase and finance it (possible house-hack or LTR if I were to purchase it) ?

people get great joy talking doom and gloom and Armageddon.I’ve been in the RE biz since 1978 and been thru several economic and market cycles.Stagflation in the 70s, 17% home loan rates in the early 1980s, the failure of 1/3 of American Savings and Loans in the early 1990s, the dot com boom the dot com bust, the subprime crisis in 2008, Covid………I’m probably forgetting a few.

You can use data sites to find buyers who have purchased properties under an LLC and then skiptrace the owners, knowing they buy in the area and have similar inventory to their buy box.