If they have, you extend that time to 6 months from date of death.On top of that, every month you delay buying the house, the loan balance is going to increase. 

After completing renovations, the estimated appraised value has increased to $370,000.

That will increase your material costs for the job and is the contractor paying for the material in their bid or are you paying for it and paying them a labor cost.

As other people have mentioned, does it increase risk of being rent controlled down the road?

They further out the ripples go from the stone, the less appreciation your receive while the cash flow increases.

Quote from @Marc Shin: @Keagan Scott on any advice you have to help me increase my bookings would be appreciated! 

They had an unfinished space counted as finished space increasing the size of the home by ~10%.

I have spent the last few years reading many books on real estate, taking real estate courses, researching, saving as much as I could, investing (to increase my purchase power) and finally feel I can begin my real estate journey this year. 

got out of flipping to new construction in our market in columbus ohio. licensed general contractor. when interest rates got high single family existing went down by 30% new builds sold at a 6% increase that year which demonstrated the desire and premium that new construction commands. never looking back. total control, rinse and repeat. we can get permits in 28 days. we can buy land cash in 21 days. we can build in 120 days to 140 days and keep moving. super scalable and easy and no risk. we build the same 2-3 Floorplans 

Additionally, confirm the transfer won’t lead to property reassessment, which could increase taxes.