I am not an expert here but my thought is that you would learn a lot by getting your license and have more credibility in the industry at large so if your time and finances allow- get that license:)

They're a credible operator.

Does anyone have a "program" or formula to use to establish a reasonable list price based on current income and expenses.

Quote from @Erik Estrada: Quote from @Mario Morales: Quote from @Erik Estrada: Hey Mario, I think you should first establish whether or not this is a non-owner occupied rental property or if this is just a primary residence refinance.

Quote from @Victor Patel: I recently invested $60K with a local hard money lender who has been established in the area for decades.

Quote from @Gamal Harding: Anduril Industries' Expansion to Columbus: A Transformative Move for Real Estate InvestorsAnduril Industries, a prominent defense technology company based in Costa Mesa, California, has announced plans to establish a new manufacturing facility in Pickaway County, near Rickenbacker International Airport.

It’s more conservative, the city itself is established, older neighborhoods, better city amenities (museums, arts/music etc), more pro sports, more hills, bigger river, has a streetcar, arguably better nightlife overall.

Address Your Financial ProfileBridge the Revenue Gap: Highlight your equity in the duplex and use your sale proceeds to demonstrate “skin in the game.”Partner to Compensate Experience: A financially strong and experienced partner can help offset your limited track record.Focus on the Land Deal: Secure the land at a good price, as it’s a crucial step in gaining credibility and attracting partners.Final ThoughtsYou’re entering an exciting and impactful space in real estate development.

I have been renting out the first home to a family member under no official contract, but i want to establish it as an investment property.

If it's in the restricted zone (within 31 miles of the coast or 62 miles from an international border, you have the choice between using a bank trust and paying the fees mentioned above or using a Mexican corporation and bearing the costs of establishing and maintaining  the corporation.