Be sure to get a legal expert to look it over before presenting to the seller.  

Presently following so I can keep up with your testimonies. 

Would I contact the bank to work a deal with them or would I work up a deal between myself and my in-laws and then present that to the bank?  

If I were presented with a duplex of that sale price, and also in an area I would consider living even for a short time, I would go for it.

We start by presenting all tenants with an overview of the plans and our proposed timeline.  

Do you have a recommendation on how you would prefer to see this info presented in a cold-call type format (unsolicited mail, phone call, etc.)?

Just don't allow yourself to not see ALL of your options for your present and future.  

But after attending the meeting, the information/lecture presented seemed very salesy.

We are looking for a new location so that someone can do some type of presentation so that there is some type of structure.

Personal use also includes time spent at your place by another party under a reciprocal sharing arrangement (“I use your place in exchange for you using my place”) whether the other party pays market rent or not.Days devoted principally to repairs and maintenance are considered days of vacancy and are disregarded, even if family members are present while you work away.The tax drillVacation homes in this category are treated as personal residences for federal income tax purposes.