To be fair I'm not super up to date on the "uber of offices" concept that you are hinting at, except inasmuch as to say "um, didn't that idea kind of die off with COVID?"

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

He didn’t just answer my questions—he showed me how this game is played at a much higher level.

You're feeding 2 dogs with one biscuit by taking care of your living expenses and generating rental income at the same time, and by living in the house and keeping it to 4, you generally get exemptions on things that might bother you to live with (IE you can choose whomever you want as your tenants without running afoul of fair housing laws).

Paid a top local esigner to come have a look and all she did was insult our cute little place that was doing just fine.....But I think where a designer could add value is by suggesting unique areas, like game rooms, coffee bars, outdoor BBQ/play areas, and stuff like that. 

You avoid the tax hit, and still get the use of 75% of the equity if you do a cash out refi - (but high interest rates sort of play against that to some degree presently… but you could alway refi again down the line if rates dropped.  

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.

You can play around with how much you want to take out.

However, I’m not sure how to accurately determine its value, given the configuration and the fact that it’s not fully rented.My Concerns:Determining Value: How should I calculate the fair market value for this type of property?

Watching and playing an active role in the transition from primarily 2nd liens to 1st and 2nd liens, laid the foundation for me partnering with GSP REI.