He can’t rent the property, at his age and capacity, he can’t rehab the property. actually if he tried to do the work, it would probably turn out worse.

It is exciting to think about having a big stack of cash to invest in something, but what if that something doesn't advance you the way your property does since it grows in value AND provides income.Maybe the $800/mo cash flow can be your seed money for stock you want to buy...? 

Then rent the bigger home out using a property manager, allowing her to possibly cash flow and maintain that asset and let it continue to grow in value.Encourage her to consult with a CPA or tax attorney to explore the best strategy tailored to her situation.

Remember, confidence grows with each step, so take action and keep moving forward!

We want to grow our real estate business to be able to quit our jobs.

You'll get a feel for the age of the neighborhoods, the vitality of the commercial buildings, the ease of location, the closeness to jobs.The markets you're describing are more linear, and usually have lower capital appreciation.

I have been using comps from the MLS but as the company grows, I dont have that advantage in other states.

It'll take some time but I see Anthem and all around the plant growing significantly over the coming years, small multifam and sfh's may be a good buy up around there.

I was also considering the REI expo in February so maybe I'll see you there.You're a self-proclaimed novice but I think many other members of the community would agree that you're well on your way given your potential cashflowing rental and equity.You seem to have a strong position which would allow you to keep growing your portfolio in the next few years.I'd recommend diversifying your RE portfolio the same way you're diversifying with other investments (REITs, Stocks, bonds etc.).

You may also want to look into 2-4 units as those are the easiest to finance and help you grow faster.