The market in Scottsdale is cheaper than the Seattle market to buy, however, the rental market is a bit higher, so we would likely be renting for around $6k-$7k/mo. 

Have you scoped out a market yet?

Very solid market, been investing there over 10 yrs and the rents continue to climb! 

By the end of this you'll know more than a double-digit percentage of landlords. 

@Shane Regnier I've flipped a bunch of houses in Ocala but have yet to dabble in the rental market. 

However, if you inherit it through her estate, you receive a stepped-up basis to its fair market value at that time, reducing tax liability upon sale.Gifting it now has no immediate tax consequences unless its value exceeds the $18,000 annual gift tax exclusion (2024).

Reno Scenerio Off Market Purchase Price - $185k ARV = $315-335kReno - $55-65kHolding - $10kClosing both ends - $25k= $335 , $315-$285 =$30-50k gain  As-IS Scenario Purchase - $185kSale Price on MLS :$225- $235kClosing both ends - $20kHolding - $4k= $235 - $209 =$16-$26k gainIn both scenerios I’ll be 1031ing it into a new investment.

Quote from @Mark Simpson: Interesting use case for ChatGPT Operator:I asked it to do a market analysis and compare a random Airbnb listing to others in the area.

@Gil CanfuWith a $300k price range, you're definitely in a good position to find some solid investment opportunities in the North Texas market.

market rents/cost to aquire What was the outcome?