. $300sqft to build at least.If you have any sort of mortgage on the property you will need an attorney to handle the mountain of paperwork the bank will give you for a lien release. 10k+, also probably some nightmare terms to have to build and sell immediately and god knows what.At this point a year has passed and you have spent at least $60,000 cash, you're about to break ground on a structure that will cost you at the very least $400,000 to build, you are still 1 year away from cashing out because you have to now build a house.

As expected, consulting with your CPA and the qualified intermediary (QI) handling the exchange is best advised.

Some used more creative ways to handle the needs but it is still a capital call and dilutes the return (if anything left). 

A professional property manager should handle the heavy lifting, ensuring your investment is protected and profitable without adding stress to your plate.

My father is a certified contractor in NJ—he’s built one home, flipped four, and consistently handles upgrades and maintenance for me and his other clients.I’d appreciate any tips or stories from those who’ve turned equity into a profitable venture.

Your son will be forced to sell or refi, and I bet you that this deal can't handle that situation. 

If you hate the process of placing tenants, it may be worth it to hire a property manager to handle tenant placement for you.I think finding a new tenant is a better long term strategy if you're confident you can find a higher quality tenant that will cause you fewer headaches.

Managing a property hours away can be challenging if any issues arise, but having a third-party property management company could help handle those situations and make things more manageable.I think you are in the right place to gain some insight on what would make you successful. 

Can you talk to someone who is being foreclosed and handle a discussion like that?

It’s also a good idea to assess their track record in handling alternative investments and supporting clients through changes.I’d be interested to hear how Inspira addresses these concerns going forward.