I am currently ending the co-ownership because my dad seriously screwed me over & I have no idea if it'll end with me getting half the fair market value now or waiting until my parents die before I assume it. 

Quote from @Seth Timmerman: Quote from @Elwin Green: Hi, all...Half a lifetime ago, in the late 80s and early 90s, I took a run at real estate investing.

PM had been pocketing half the rents for 10 years.

So true I mean rent free would be #1 goal but I can make do with half my living cut down .

If they take an extra four days to vacate, that's $800 in holdover charges.

Removing a wall could add value to the home in theory, but for some rental areas, having extra rooms helps.

Combining this with tours or small events can add extra income.Lease Mineral or Water Rights: Depending on the area, leasing mineral or water rights can be a potential income stream if there are valuable natural resources under the land.

If they're charging $500 a month AND they charge a set amount (sometimes its a months' rent or half a months rent when they get a new tenant), then they're ripping you off and you should fire them immediately without question.  

Alternatively, partnering with a reliable GC can help you scale without adding extra responsibilities.

Completely renovated main level:* Demoed and redid kitchen with new appliances* Refinished floors and reglazed bathroom* Replaced the roofComplete demoed and finished the basement and landscaping* Replaced half bath with full and added 2 bedrooms* Replaced entire plumbing including sewer line* Added second washer dryer* installed stamped concrete patio and walkway plus fence* All new landscapingWhat was the outcome?