You know a similar thing happened in Kansas City (more specifically Jackson County, MO) regarding property taxes in 2023.

The property is livable, but I am account for a pretty significant turn in 4 - 7 years of paint, flooring, and any miscellaneous repairs that the inspector could have missed since it was occupied.

Since you have more time than capital right now, consider side hustles like Airbnb co-hosting, property management for other investors, or even leveraging your nursing background to consult for mid-term rental owners.

I’d like to discuss it with a realtor, but I’m worried that if I disclose the deal, the realtor could bid against me on the property.

Quote from @Chantel Holsather: I am always an advocate if you can fix up a property to make it more marketable, that is really the way to go.

@Angela Simon, If it wasn't your son there is a small chance that your accountant would let you purchase the 50% of the property you don't own. 

Awesome job with getting a cash flowing property!

I am a fellow investor also looking for my first property but I also have a contracting and property management company.

This means having to take a chance and take the property off the market for 2 weeksOption 2- Accept the offer with a provision that allows you to continue to market the property, knowing that there's a chance FHA may not fund the deal. 

You are 18, you shouldn't be ready to buy a property yet.