One major thing to know - does your father-in- law play poker better than you? Does he know how to pull the winning card as the last card when he is the dealer?
Seriously, I would think with minimal modifications, a 3 bedroom house could be made into 2 separate living spaces.
However, from a realistic point of view, that is taking on a whole lot of "togetherness" you thought you had gotten away from now that the boys are independent on their own.
There can be too much of being super-nice people (as the Polar Bear and Mrs. Bear are). Yes, these are your wife's parents BUT you do have to think of yourself and how much or less harmony/long term happiness such a move would make for you, Mrs. Bear or the in-laws.
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