I estimated that it was worth $183,000 based on a few local factors and the sellers scoffed and stated their number was $215,000 once it went on the market.

Lenders can dictate terms based upon their risk factors and can enforce DOS.Owner occupied... add spouse/children after closing and DOS cannot be exercised.

If you're good at it though and you can make it as an agent and investor the real estate professional designation is sweet for taxes. :) 

Probably not likely with any sort of design.

Whether they will or not will depend on other factors.

I am 23 living in Dayton and I am a Designer / Draftsman with an architecture degree. 

We don't have a property manager and repairs are minimal so we clear over $500 a month with repairs and Cap Ex costs factored in.https://www.zillow.com/homedetails/2740-Nottingham...Thanks for your advice and opinions in advance 

. - What about designing a lease option for 12-24 months?

If you agree to his budget then any overages would be at his expense and not factor into the profit split.  

My question is whether anyone with experience of adding similar small interior storage units/lockers can offer any recommendations regarding design/materials/systems?