You can find comparable sales in 2017 and use that dollar/acre figure to arrive at the fair market value then. 

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.

Be sure to check out the free tools BP provides to help analyze deals you may have and also market insights.

Always prioritize cash flow – Even if you don’t need the income now, properties that cash flow will be much more resilient during market downturns or unexpected challenges.

I thought I was buying at top of the market in 2020...and 2022...but prices continue to remain high. 

However, after receiving the survey results, I discovered that the house is located less than 1 foot over the sublot line (see attached image).Here are the options I’m considering:Rent the current house for market value (~$1,500–1,600/month) and convert the detached garage into an ADU to rent for ~$1,000/month.Relocate the house to split the lot, then sell the newly created lot (~$100,000) while renting out the existing house.Relocate the house to split the lot and build a new home on the second lot.Demolish the current house and garage, split the lot, and build two new homes.At this time, I am uncertain about the cost of relocating the house.Questions for the community:Has anyone faced a similar situation?

True, but (a) they were typically experienced investors, and (b) today's market includes record prices and high mortgage rates, which is a double whammy. 

It is just a farmer's market for real estate products. 

However, on the renting side, we have seen an increase in inventory of days on market too. 

A triplex that cheap is hard to come by I'm curious as to which market you're investing in and the state of the property.