;) He served a half dozen cars while I stood in the parking lot (while we were making improvements) and watched!!??

- Watching a TV show or a movie- Reading fiction or non fiction?

I am actively investing in Berwyn, although you have to watch your taxes very, very closely.

We have watched the growth over each visit, particularly in Oshkosh and surrounding smaller towns. 

These investors buy notes every day, and if you watch them work, they will teach you everything about the business and the due diligence process.

If you're parents are going go receive any money from that then they will have to take depreciation then on that property and it will appear on their schedule E as well (upon sale they have to recapture any depreciation they took or could have taken so watch out for that).If you go further the route @Corby Goade suggests with a deeding you'll want your accountant to advise on gift tax consequences or use of the one time limitation. 

Any thoughts on what to watch out for if I do progress to an agreement with him? 

@Charles Price, One thing to watch out for that I just saw buried in your post was the fact that you've owned these for quite a few years. 

Watches for the water level to drop.

Well I must say this is better entertainment than watching Trump and Warren go at it over Native-American DNA.