I have a goal of being able to spend time with my daughter and family.

They take good care of the properties, but there's not enough attention given to pricing strategy and they spend money like nobody's business (not a problem when they were spending their own money on the master lease model, but a BIG problem when they were suddenly spending OUR money as the PM).

An appraiser likely isn't going to spend time giving you much feedback in advance (unless you have a connection or they are super slow).   

If you go with the partnership route1) You need to manage the money going in and out of the business bank account.2) File a partnership return and be responsible for issuing K-1's3) make distributions to you and your partner for cash flow that you receiveYou will likely spend many hours on a nice gesture.I may want to consider instead to give a christmas gift or a bonus for early completion of projects.

GC in my area cost 10% of the total and I would say that is worth it for what they provide, but if you have the knowledge and willingness to be on the phone with subs (and spend a lot of time on site) you could save that by DIYing it.

Flipping a brand new home likely wouldn’t bring much profit - especially after having to close twice when you first buy it, and later sell it.Maybe you have millions to spend and I’m just missing the big picture… but when I think of “income” I’m usually thinking “net income” after you factor in expenses, like purchase price or building costs?  

As important a consideration is how will you reinvest/spend the proceeds from the sale to build wealth.Hope this helps.

If I did, I'd find a place I really like to visit and be prepared to spend a lot of time there making connections.  

So far, nothing.The point is that I believe people spend a lot of money, time, and effort protecting themselves against a non-existent threat.

I would spend time building your list of WHO (agent, mentor, contractor/handyman), then WHAT (house type, tenant base, work needed), then WHERE (location).