I’m guessing your rents are far below market value.

Be skeptical of the developer's claims, as your property's value likely won't see substantial growth until the entire development is completed and sold, which could take several years.

If you gift a house, the fair market value (FMV) at the time of the gift applies to the lifetime gift limit—not the amount you purchased it for.

Always have a clear exit strategy, whether you plan to rent, flip, or sell the property down the line.If you or your son are looking for more hands-on guidance, feel free to reach out directly.

I’m looking for a local mentor that I can learn from and provide value to so any suggestions on how to find one and pitch myself would be great as well!

But don't let them know it.It amazes me how many of our members at MassRealEstate dot net have an Asset worth $300-500k Rent it for .5-1% of value and hardly pay attention to it, yet chase a tenth of a percent in CD rates;-)

If you would like help feel free to reach out.

My gut feeling is it's going to cost around $4,000 to repair and has been there for ages.

This way, you can get a feel for which system aligns best with your business process and workflow.Hope this helps, and best of luck with your wholesaling endeavors!

Look at all of the losses you can count against your rental income.Now look at line 18.Line 18 is usually:(Value of your property) - (Land value) / 27.5 years.