He said it looks nice and resists scratches from pets.  

Nice try, but this time does not count.In order to meet 750 hours, your wife will need one of the below:- do something else real estate related, like wholesaling or realtor- actively work on expanding your rental portfolio - have an extensive DIY rehab, like a month-long full-time rehab (and then she might need another kind of rehab)- a calamity such as multiple properties damaged in a storm where she will have to deal with insurers and contractors- something else out of the ordinaryAgain - if all you have is 9 single-family properties with stable tenants and typical occasional maintenance - you don't have enough work to collect 750 hours.

my hope is to get a nice unit for my son at below 50% of retail.  

Renovated Hey @John Perkins, welcome to the BP Forum and nice work!

I'd venture to guess your tenant is a criminal or drug addict of some sort.There's some truth in your thought but he's actually a really nice hard working young man. 

Having a nice spread by the river in Washoe valley would be nice.

I actually had come across your post below in the Events forum and thought to myself it would have been nice to attend that to see first hand a local flip and talk shop about the process.https://www.biggerpockets.com/forums/521/topics/1215682-chec...I am happy to hear that someone with your experience in the region feels that Westchester is a market with some potential.

Any development work they've done on the property also becomes your property.If the property becomes yours, you could try to sell it back to them quickly and below market for a nice profit.

It may sound nice to pay a 6% management fee but the extra fees can add up to be more than the other company that charges 10% with no additional fees.

Like @Kyle Mccaw noted there is significant value in goodwill and I imagine you profited nicely over this pleasant long term relationship.