They are usually real estate salespersons as well. 

Does anyone know how insurance companies evaluate these properties and whether or not real value can be realized for insurance for renovation? 

Your reinvestment targets for a 1031 exchange would have you purchasing $700K of replacement real estate using all $500K of equity. 

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I've seen many landlords that get lucky with good renters for a long period of time, then everything falls apart when they have to deal with real difficulty.I looked up your property on Google Maps, and the street view looks bad.

I am new to the real estate investing space. 

Are your real estate investments active or passive?

You all must agree to the same thing or else you will just end up fighting about what to do.Since your mom doesn't have it in a living trust, I suggest you do that right away.

Having a real estate license, I would credit the commission payed out I would receive for being my own agent towards closing costs for the new property.

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