All the tut-tutting is not a useless exercise, but this forum is about the free exchange of information.

One unit is rented at $900/mo but that's below market and they will be moving out at the end of June supposedly.I would love some feedback on how this looks at first glance, what costs I may be over looking and then if this is something I should jump on OR if this is just a nice exercise for when a better deal comes along. 

I look at reinstatement as more of a risk assessment exercise. 

Run this by your attorney, but you might be able to add a clause to your lease with the prospective tenants to exercise a right of rescission in the event the closing doesn't take place.

You want to find out what is typical for the area and exceed that expectation if it's a cheap item to change.Maybe refacing the pool and adding a waterfall and updating the common area.Redoing or adding an exercise room.Making a small playground area or adding a basketball hoop or tennis court.It depends on the area but the little things will go a long way.Are rents per unit going up,declining,or staying flat in the area??

He said what I should do is transfer the property to a land trust with the sellers as the beneficiary & my agent as trustee...I could then give an affidavit of trust to the FHA lender and it shows that the property essentially didn't change hands..I would also get an assignment of beneficial interest from the seller, that document doesn't ever get filed (or exercised) unless I would need it, like if someone is questioning ownership.Since my agent (attorney, REagent, best friend, whatever) is the trustee, they handle the sale and distribute the funds..Anyone ever heard of this?

The may well chose not to exercise that right.

I just went through this exercise this week.

I personally believe that the ADU will not affect the resale value of your home, but rather enhance the desirability.

Then $10,000 / 25% then you can do a $40,000 deal.The above exercise narrows your search down and you will be more successful.Then assess your personal life situation.Example: Single/married kids/stay at home/still taking classes/etc.How do you either invest or reduce living expenses:A.