This home is going to cost you more money every year, particularly if you have a tough turnover with a bad renter, which is highly likely given your manager's current performance.You've already lost seven months of income ($1900 x 7 = $13,300), plus utiltilies, landscaping, and other expenses.

Pretty tough to get folks to part with their cash with no title insurance and I don't blame them..

Most rehabbers include only enough for initial demolition/cleanout, drywall scrap removal and end of project cleaning.

Shouldn’t be too tough a sale, huh? 

It's a tough market to be.

As my first project I would like to purchase the property out of the trust, maybe move into my newly formed LLC, and convert to a 2 family.

Like you I think I made my first investment in a true syndication when I was in my early 60s. the sponsor is what matters.. asset OK  but if the sponsor is not top notch I dont care how good the project is..

I work a full time job , so time can be tough but I know that not being able to do dynamic pricing based on slow months is really hurting us. 

I have many years of construction experience and have also done a fix and flip, in addition to ground up construction, as well as 10 years of entrepreneurial experience running a paddle board rental company, and advancing science through developing theoretical methods for efficient large scale simulations...I guess my problem is I can't seem to figure out how to find the money to do more projects, which is why I've been trying to sell my house.

I just don't have a big market, so it's tough to find something like this particular property as evidence.I was thinking of something more general, like a formal study of various markets, but I haven't found anything except general articles or blogs.