I don't live in CA, and wasn't aware of the Prop 13 passing to the next owner if it's parent to child and both live in it as their primary.

Their children (now in their late 40s) inherited the house, but they have not listed it on the market, and I heard that neither is willing to move into it from their current setup, so the property has been sitting vacant.

It, will go up next year.

Over the next 7-10 years, these properties will fluctuate up and down in value based on the current economy; however, real estate will move up and to the right over time. 

Also, if anyone has any experience in land purchasing I would appreciate any tips or websites on how to find the best deal or agent for the same.

what exactly happens next? 

I’m exploring the idea of buying a vacation home near Yosemite, which I also plan to list on Airbnb.

I may be misremembering this next part, but I recall one of the RTR podcast episodes where he mentions that RTR keeps all the “10’s” and gives the “9’s, 8’s, and 7’s” to the customers.

So maybe think this through a little more.

When you build a relationship and use a Banker time and time again they know your file, credit, and can determine what program would be best for the next step or cash out refinance.