He'll still be renting - just from you instead of others, and at all the costs to you that you have enumerated.Your son doesn't "need" to buy a house.  

This can be very expensive and is usually the worst choice because you can't justify the cost.2.

The issue is cost.

Renovation cost is roughly $30K.I guess what throws me off is that you say Cash invested: $60 

New deliveries are hard to get out of the ground because rents aren't high enough to support the projects at today's costs and interest rates. 

If you sell the property, a lot of the $107K cost will be eaten up in transaction cost.

And while yes, no one has the same pricing (combination of factors), I also continue to check on a regular basis our rankings and how we "present" on total costs per stay vs. our competitors.My gut says there is price creep and we might have a ways to go before the market really corrects.

Be focused more on systems; i.e, are we saving enough money to invest by not indulging in other areas and prioritizing the right specific things, is the cost of this pursuit worth what you're sacrificing, if we keep $X set aside everything else above $X should be invested here in the short-term and this in the long-term.

Midwest has inflated over the past 5 years (as everywhere else), indexed to cost of new construction.

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