For those of you who've completed a relatively small transaction ($500K SDE, <$2M purchase price)), how long did your financial due diligence that consists of simple QoE and proof of cash take? Obviously depends on the business but wanted to get a ballpark number, assuming I get the necessary data from the seller reasonably quickly. I think the accounting of the business itself should be pretty straight forward, but one only thing I'm concerned about and want to verify throughly is the seller's personal expenses added back to SDE (there are quite a few items being added back).

Trying to sequence the different parts of due diligence to optimize cost, so wanted to get a rough timeline set to share with the seller and the broker. I figured I could engage the lawyers to draft up Purchase Agreement once I'm comfortable with the financial DD. For example, is 45 days enough as a budget for financial DD?