In this crazy market often times the appraised value is only about 80% of asking price so a safe fudge factor is to set expectations on having a cash position for more like ~350k to ~580k depending on whether you qualify for FTHB or not.5. 

For most investors, the 1% rule is a quick way to determine if a deal is worth looking into further, but not as a determining factor to buy or not. 

Different jurisdictions and areas implement land use vastly differently depending on several factors...so you may be fine to just continue the use...or it could be required to be demo'd if you want to pursue anything outside of the current land use...it all depends on the local codes. 

BUT the kicker is that, low and behold, they did not factor in the (probably because it's not legit) addition to the back of the home.

Quickbooks seems to be the standard and it integrates with almost all software

50:50 between the two units or do you factor occupancy in there as a unit with 2 people will use more water than a unit with 1 person (in general).

Also tax record indicated as 3,787 sqft (I understand this could be differ than actual), and other public factor indicating this property as 3,700~3,800 sqft.

When you comingle the finances of the LLC (eg: Title in LLC and loan in personal name) that may jeopardize the LLC's integrity (speak to an attorney about the full legal implications). 

@Michael Opper I'd say it depends on a few different factors, but I'd say yes.1) Are they a good tenant and do you want them to stay long term?

Harvey,There are a variety of factors at play, region will play a factor, age of property will play a factor, diminishing returns plays a factor (for instance going from 2nd to 3rd bedroom will be more valuable then 3rd going to 4th) To me the key to to a CMA is get as close of comp as you can when it comes to these factors (square footage, bedrooms, bathrooms, age, size of garage, size of yard) Once you start diverting too far it become a bit more of an art then a science.