This allows you to participate from the comfort of your own home while still networking and learning.

Would it be better to do some remodeling and deduct those costs from the sale proceeds, or should I foreclose and sell the property "as-is"?

Family members are allowed tax-free gifts and that can come in many forms, just talk with your CPA and you will should be able to structure it without any tax burden.

I THINK you could probably just expense your deductible if insurance didn’t cover 100%.

For those interested, a combination of mortgages with no “due on sale” clause, mortgage companies loose due diligence, and title insurers willingness to “turn a blind eye” to practices that wouldn’t pass scrutiny now, resulted in tactics like the “second mortgage crank” which not only allowed investors to purchase properties with no money out of pocket but allowed investors to actually walk away from closing with “cash in their pocket”.

Quote from @Anil Shah: Since I read a townhome, I assume there is HOA - do they allow STRs?

Building a portfolio allows you to gain experience, develop systems, develop your own approach to managing properties etc.

I like both, but real estate allows you to control your investments much more personally.

You only want to file a claim if it's much greater than deductible or your rates shoot up pretty quickly. 

This could allow you to use the full amount for purchasing real estate without needing to sell your stocks outright and incurring significant tax implications.