Agreed with Jon...I would never trust an architect (or anyone other than the actual contractors you'll use) with cost projections, for lots of reasons:-  He doesn't know the contractors you will use-  He doesn't know if you'll be be GCing it yourself or hiring a builder-  He doesn't know the finishes you'll be using-  He doesn't know your ability to negotiate prices-  He doesn't know your level of experience and ability to make cost-effective decisionFor our most recent project, I had architects projecting $125-150 per square foot for construction. 

I still need to learn how to analyze a property...looking forward to utilizing the BP calc and learning from those engaged on BP.Also, I am in the process of getting a heloc from my primary to fund my initial investment.  

I am not familiar w/ areas where not  being owner occupied effects your taxes, but it is all public information. 

In order to permit tenants to adjust to the possibility of unregulated rents, and to address the potential for abuse of the owner-occupancy exemption by landlords who are motivated to move into a property to gain an exemption just to increase rent and not to reside in the property, this exemption should not take effect for one year after the amendment to This chapter exempting these rental units is adopted, or one year after the landlord begins owner-occupancy, whichever is later.I'm not sure you answered my specific question, but you have brought the above paragraph to my attention which looks like it directly applies to me NOW being exempt from Oakland's rent control and the "Just Cause for Eviction Ordinance" since I moved back in and Owner occupy one of the two units.

If you move forward with this transaction and 2,3,4,6 years down the road you decide to sell via short sale, you will be effecting their credit after they have already moved on from the property years prior.In taking properties over sub2, you are providing a solution for the seller so they don't have to go through a sale that will negatively impact their credit.  

If you don't do these things effectively, there will be no need for any entity as their will be no business. 

Is that gonna effect the ARV?

Of course, if they are buying a place that might have little effect on them. 

I thought that would be better and more cost effective to provide the attorney with the documentation instead of paying him to produce the packet himself.  

It is likely to be much more cost effective if you understand the basics and let a successful coach show you what you don't yet know.