Over 75% of US cities have less than 10K people so the city staff and planning dept are very accessible and are a great free resource to understand zoning and where your vision can fit into their community.

The 1031 exchange rule to defer your tax is two part 1) reinvest all your proceeds and 2) purchase a property (or properties / DSTs/TICs) with an equal or greater market value.  

.: What is the average conversion rate for cold calling using software like PropStream, specifically targeting probate, foreclosure, or tax delinquency leads?

Unless there is a reason to submit your tax returns, you could go w2-only. 

The land is on two tax lots so my plan is to sell the extra lot immediately after closing for a projected $275K.The property on the other lot will be a fix and flip with projected costs of $240K and an ARV of $750K.I plan to use a PML of 2 points and 12% APY for 70% of the total cost.

3) Your $250k with 30% down => about $750k (you also need funds for closing costs, taxes, etc.)

Always have a clear exit strategy, whether you plan to rent, flip, or sell the property down the line.If you or your son are looking for more hands-on guidance, feel free to reach out directly.

Feel free to reach out if I can help in any way.

If you ever have any questions or need any tips or info, feel free to reach out. 

Tax free appreciation and rents significantly trump the loss of depreciation and custodial fees.