Since 2001, we have leased a home in the University District, of Seattle.  It is basically an average, two-bedroom, one-bath bungalow style house with an unfinished full basement.  It is in this house that we have been hosting our young wards.

To accommodate this situation;

• We have carved a two-bedroom set up out of the larger, “Master bedroom.”
• We divided the “Living room” area into three smaller, dorm-style bedrooms.
• We have broken the basement into five bedrooms and added two basement bathrooms.
• To make the units legally ready for occupancy, we have added additional exit options for each room and meet other city and neighborhood criteria.

We have spoken in the past to the Property Owner about purchasing the house.  He is amenable to selling it to us with some creative financing.  We would have to come up with a very sizeable down payment, and he will help arrange financing for the first year.  At the end of that year, we would have to refinance, but we would be the registered owners.

We have recently been informed by the Property Owner, that he is in talks with a developer to demolish this house and build two duplexes and an ADU on the site.