As someone living in Southern California, I can definitely relate to the challenges of navigating expensive markets.

The executor of the estate also should have had some basis for that as well.Fair market value when your relative passe as @Jake Baker and @Cory Carlson said.

Only the interest related to the $50k of renovation use of the loan will be deductible (38%)

The Creative Investor Meetup is designed for beginning to advanced investors who would like additional strategies when constructing deals.All aspects of real estate investing will be covered including (but not limited to) - Wholesaling, Flipping, Buy and Hold and Commercial with an emphasis on Creative Financing.

Frank, For a rookie investor with low capital looking to build a rental portfolio, the best strategy is house hacking: buy a small multi-family home with a low down payment (FHA or conventional loan), live in one unit, and rent the others to cover your mortgage.

How do you think the 2 relatives will feel about having their rent raised or being required to pay rent period?

That can be a draw back if the market is on a mad run up tho.Also, I would always have enough in a heloc to cover your 401k loan in the event of job loss or if you quit your job. 

., contact investor relations and ask.  

Ensure you collect a proper security deposit (typically one month's rent in Florida) to cover potential damages.Your plan to increase rent next year makes sense given rising costs (taxes, insurance, and maintenance).

Their target audience are professionals with cash don't don't have the time or desire to become educated and are willing to pay/forgo some revenue for a experienced investment relations firm.