Take the proceeds and invest in a highly trusted Syndication or fund and enjoy the passive income.

Why not take his name off the LLC and put it in your name now while the LLC has $0 of value (or whatever nominal amount your articles of organization or operating agreement say that you contributed)?

Take a bit of that money and invest in learning - go to meetups and the many events that take place related to investing in the city - some for free and some paid.

Start small, focus on building relationships, and take advantage of Conroe’s growing market to achieve your goals.Good luck!

There might be some negotiation room for you to adjust the taking of proceeds so that you end up the the real estate (and deferred tax) in a 1031. 

So if you found examples of houses that sold for 20% below what you paid, they might lower your taxable value by 5% after taking that 15% cushion they give you into account.  

One of the most successful investors that I know in my area told me that his business really didn’t take off until year 10.

Great questions — this is a small project, a single detached lot that could take up to 3-4 units max but is currently zoned for single family.

Take advantage of all the information available to you.

You have to be a serious individual that takes care business.