Thus, absent specific circumstances (e.g. the need for estate tax planning), it is often wisest to use a a revocable living trust for estate planning coupled with a an asset protection plan relying primary on business entities such as LLCs and insurance.With that preliminary out of the way, it is often a good idea to work with a trust attorney that is experienced in preparing trust documents in the jurisdiction where you reside as this is the primary jurisdiction that the documents will be administered, especially those documents that are ancillary to the living trust such as your powers of attorney.

I have begun my preliminary research and apparently either the neighborhood has to have already approved ADU’s or you have to submit and application and have a hearing.

@@Kathy Diamond Have you considered getting a preliminary estimate on what a buyers tax benefits and cash-flow would be with the latest available tax information?

I'm sure we're not going too much lower but if I was a betting man I would wager we're headed lower rate wise... may bring some buyers off the sidelines.

@James Mays Ask the "real estate-focused tax strategist" to provide a projected ROI (preliminary analysis/estimate) from implementing the strategic plan.

If i can get 20% down that would be ideal and change things a bit.Just doing some preliminary here.

I had one client tell me that a well-known direct lender did not provide her any preliminary settlement statement/CD and mentioned that they could not lock in her interest rate/terms until final approval.

What are your thoughts on the preliminary structure of this JVA?

Tell them you are ready to sell and want a preliminary title search doned...I think you will also have to sign a document at closing stating there are no liens you know about.  

Here's a high-level look at some of the preliminary numbers:Offer price: $53,500Purchase closing costs: $1,200Rehab estimate: $25,000Estimated holding costs: $2,000ARV: $105,000-110,000Target 75% cash-out amount: $79,000 - $82,500As you can see, the numbers looked pretty good up front and it looked like we would be pretty close to breaking even on the project after the cash-out refi, so we went ahead with the purchase.