I believe that any losses you have in the stock market could offset rental income.On the other hand, the better solution is to not have any net rental income. 

I've flipped homes and land several times in my life...but it was actually unintentional believe it or not. 

Unless you’re a very unusual individual, I believe a full service broker would be better for people who lack these attributes. 

As I firmly believe, buying nicer assets is how you build generational wealth.

The biggest mistake new investors make is to walk a property, maybe explain in general terms what they want and then let the contractor come up with the SoW.For a bedroom this could be:- replace carpet- repair closet dooror- remove carpet- remove curtains, nails and screws- replace closet doors, entry door SKU#- replace window SKU#- refinish hardwood floors 144 sqft, clear/oil-based- prep and paint all woodwork- patch walls, texture, paint walls eggshell white clay, ceiling flat white- replace light fixture SKU#, replace lightswitch w decora/white, replace 3 outlets&covers- install blinds SKU#Obviously, the cost would be quite different.

Is this a different property  I believe she had sold that property.   

I believe you were right he would inherit your cost basis, so he would owe capital gains.

ThomasI believe those are reasonable assumptions.

I believe that he might want to move the Florida loans to Colorado I just found out but Im very hesitant to do it and putting all my eggs into one basket.

Costs may disqualify the opportunity even though in theory it can be converted.I believe its important to set expectations and if this is an 8 bedroom RSA5 home just as an example you very well could be looking at a building that's obsolete and again even if it is RM1, depending on the costs of the conversion, still potentially obsolete.