In short, having all the conversations and commitments in strategy, setting up LLC and all the fun docs of who's doing what, and I'd suggest even getting initial funding into account for at least EM. 

These methods include: Detailed Engineering Cost ApproachDetailed Engineering Cost Estimate ApproachSurvey or Letter ApproachResidual Estimation ApproachSampling or Modeling ApproachExperience or “Rule of Thumb” ApproachIt’s important to understand the differences between the approaches including which one best fits your property and the reliability of each approach.DETAILED ENGINEERING COST APPROACHThis approach compiles the costs from construction and accounting reports to build a report.

I am a current Senior at Catholic University of America playing Baseball and finishing up ny accounting degree.

You will need to provide an explanation of the circumstances surrounding the BK every time you apply for credit, apply for a job, apply for a bank account, etc.Bottom line is if you’re working day labor type jobs for small companies and live on a cash basis it might not affect anything.  

Maybe just under $600k at 95% accounting for closing and keeping some (tight) reserves.

Seeing as they have full utilities and stick built, they should be categorized as real property and have good value for their size.

Or take cash and pay the tax on their portion.Only your accountant will know whether this kind of drop and swap is possible without a tax event. 

MLS has it as a single family residence, 3 bedroom, 1.5 baths (actually has 2.5 baths), approx 1500+ sqft, 9k+ lot size, 2 car garage, back yard. 

Mostly people with minimal RE experience are adding a single ADU and they often make that choice based on cash flow without taking into account the negative equity position.  

Do people take those credentials home with them and continue using your account.