@Phil Acnodnem1) that’s up to you, assuming the house condition is good enough to finance2)not sure how your assessment valuations work there...here it’s based on market comps, not what you actually paid for it3) makes no difference4) you need a title company or attorney to give you a standard purchase agreement, for the two of you to sign.  

@Paul SmytheMarket conditions change over time.

Storage areas can include built-in cabinets, closets, attic space, and even outdoor sheds, etc.Laundry: Including a laundry area and machines is a big bonus for tenants, as they compare that with apartment living where they would have to use common laundry machines that require payment.HVAC: Make sure to include an effective dual heating & air-conditioning system to service the ADU, so your tenant is comfortable in the unit.Kitchen island: It may be difficult to squeeze in a kitchen island in a small ADU, but it’s a big bonus if you can make the space.

Actually it might be the worst.It's not a matter of learning the process; it's the fact that you are buying a property in unknown condition, both physically as awell as financially.

I would start with saying that you just had a repairman service the units and that they are in safe working condition, which might provide some peace of mind.

@James Wise but you are commenting with an opinion on right and wrong and what you think is acceptable or not so I assumed you had a solution on it since some home owners do own distressed properties that they prefer to sell in As Is condition which typically realtors do not want to sell due to them being lower dollar amount, and wholesalers do.

Depending what year the property and condition, increase budget.Just the way to evaluate it.

Hi Connor-There are definitely some rules of thumb or baselines I start with, and will modify based on the property condition, age, location, and upfront reno plans on the property. 

I really enjoyed my home and the home is in good condition.

The same street was flooded in 6/2021, as later found out by us this past few days.With many components to replace/restore back to "agreement of sale" date condition, (electrical panel replaced/inspected; basement windows grouting/pointing washed off; HVAC system; all the wood/drywall, etc), it is likely he won't be able to get everything done by closing date 9/14.