So far I have the following:1 – I will take the apartment “as is”.

You would file this final 1040 for the year 2022, including all income up to the date of death.For the year following their death (2023), if there is any income that the deceased person’s estate receives, this income would generally be reported on Form 1041, which is the U.S.

Success in real estate requires at least two of the following, thou possessing all three is better; capital, knowledge and experience.  

I recently did the WREIN Seminar and started following Jerry Norton and BiggerPockets and decided that it wasn't just for the rich and I could begin with what I have and build from there. 

Then follow up regularly.Unfortunately we can't help you with deals in South Jersey.

Follow-up for 2-3 months and it can become a deal.

Thinking of approaching investors in hopes of the following. 1) investor pays for demo of my current home + build of new townhouse.

There is a right way and a wrong way to do a LLC, 99% follow the herd on biggerpockets and think they are "protected" by doing this but all it seems like they are doing is throwing money away by making life harder for themJust my non legal 2 cents on this. 

I was wondering how you navigated that in the states that follow the Safe act and require licensing.

The 'rule of thumb' that everyone should ALWAYS follow is... educate yourself and verify everything - Whenever you put money into any investment you need to research the rules that apply to that investment strategy from alternate sources and verify what you are being told - Never make an investment if you don't understand the issues and verify every claim made through county public records and other, 3rd party sources.