The property is more desireable from a rentability and sale standpoint.

You have to be sure to keep this information a secret until the end of the deal, otherwise they will come to expect it and it doesn't have the desired effect. 

As many know, the Seattle region has a housing shortage, and I think this type of housing would be desirable for people who have steady jobs and good credit but can't afford to pay $1500/month for a 1 bedroom.

As in most desirable locations you have to work hard to get good deals. 3.

I agree with your desire to move into the MFU space.

Not all properties are lawful for adding a 3rd unit as you desire.

I have no desire to hold onto those class C suckers for the next downturn, but holding my class B stuff no problem.This is how I've played it and why ... but every market and every investor is different.

I personally have no need or desire to do this since my local market serves my investment needs quite well. 

As a project manager (and if you are running your construction projects, or an owner doing some of the work on site, you are THE project manager) you need to have a plan for the entire project in 3 different areas: Scope- what work is to be completed on the project to achieve the desired result, Schedule- a reasonable expectation of time required to accomplish the scope, And budget- the money needed to actualize the scope within the defined schedule(also known as the project constraints)There are many ways to deal with all of these constraints and different projects require different strategies, but the important thing to remember is that the 3 constraints are tied together- if one changes, the others need to adjust as well.

This is a duplex in a very desired area of South Jersey with easy train access to Philadelphia.