Diversify with real estate and some mutual funds so you have some reserves.

So far it has been beneficial because all these things do happen.I would like to see your revised report when completed.

We would love to connect with other investors and real estate professionals in Maine with whom we may be able to one day form mutually beneficial relationships.Have a great day!

Also, how common is it for wholesalers to do Joint Ventures in Memphis, and is it beneficial??

Don't wash your mentor but build a mutual relationship. 

We have mutual acquaintances and like you I have become a podcast junkie.

Also I saw a 2 acre lot just outside of the nearest city for about 12,000 without a well drilled or septic or electric, but the location seems beneficial. 

I'm not a 1031 exchange expert but have bought and sold 6 properties this way in the past 2 years (1031 exchanges)Would be glad to help how I can - can also give you some tips on what I've learned may be beneficial for estate planning as far as navigating Assisted Living/Medicaid HCBS etc - (Tip - unless you want your mother to go private pay in assisted living and drain all your money you may want to start getting assets out of her name now - guess it depends on where she'd want to live and how much you want to spend) -- Anyways we've been trying to become experts at our facility on HCBS and the different waiver programs (specifically Physically Disabled - which your brother may fall under at some point and Frail Elderly which your mother can fall under at some point)

Oh, I see you own a single duplex  you bought recently...you have no experience with actual apartment investing AT ALL which is why you don't know that your suggestion doesn't work anywhere in the country....Sigh, when you own only a single duplex in small town IA, then talk down to experienced millionaire investors who actually know what they are doing....then get schooled.Go ahead and find an apartment complex that allows you to review tenants information and walk through units before you are mutual.

These also don't have to be mutually exclusive which I'm sure complicated valuations and analyses.