We have an existing mortgage (backed by these 2 lots and 2 others) and given the increase in appraised value there is no need to pay anything back to the lender when selling the lot.

If you need a conntection in Upstate NY I can direct you to the right person.

I can't imagine how much extra time is spent without having automation.

How much below market are current rents?

Because it doesn't matter how much you get on a PA if it can't appraise. 

The investors get much more profit out of the property.Recommend having a very open conversation with your FIL, expressing your interest in potentially taking over the property from him.

Thank you Shawn much appreciated!

You need sufficient NET (after all expenses) self-employment income from something like contract (1099) work, being a Realtor, wholesaling and so on.

Check their nightly rate, occupancy and amenities.That will give you a pretty good idea of need and profitability.

In my home market of Florida, our insurance rates have made it much harder to have positive cash flow on a CRE deal.