I have spent the last 8 months listening to all of the BP Podcasts, reading many of the recommendations made on the podcasts as well as within the forums and blogs.

Your last name

On MLS, I see some properties in an area have $3k or $5k increases monthly last few months.

Last question:How do you account say $20,000 of fixing up the property to make it rentable?

And last thing.

I think I can build the second unit for $50-60k, but what it will appraise at is the big issue, as there are no comparables in my area that I or my realtor could find.My last house the FHA appraisal came in $10k less than the offered price, so even if the rent income justifies fully a $300k or $350k mortgage, if the FHA appraisal doesn't agree, I am screwed, this time for a much bigger amount.Certainly the difference between $250k, $300k, or $350k is huge, one has no profit, the other $100k profit!

In other words if the lease lasted 20 years at $1 per month, you are bound by that lease and terms until it expires in 20 years (extreme example).

Lastly, if I crunch my numbers above and it tells me my offer on the house wont land it, I like to revisit them, and see what/where I am missing costs (too high or too low).

This collateral (the land) might have been thrown in last minute to boost NCAV for all I know. 

I opened an operated a co-working space last year.