You should factor in time value of money and opportunity cost.  

Here are the key details of my situation:Rental Property Details (Note: This was our primary home till 2017):Current Value: $970,000 to $1MPrimary Mortgage Loan Balance: $505,000 (@ 2.6%)Took Home Equity Loan on this house to make down payment for my current primary residence.Home Equity Loan Balance: $123,000Total Loan Balance: $628K (Primary Mortgage + Home Equity Loan)Rental Status: OccupiedPrimary Residence:Purchased in 2022Mortgage Rate: 7.3%Current Loan Balance: $650KMy goal for 2025 is 2 fold: #1.

Talk to a CPA to see how each scenario plays out.A 401K continues to grow in value, but what do you live on? 

My budget is slightly constrained for this first property so looking to save on purchase price and hopefully add value through renovations.

Living out of state, I accepted the photos she sent at face value.

You may want to pay an appraiser to determine the value at the time of inheritence.

Start small with strategies like house hacking, leveraging your hands-on skills for value-add properties, and building a strong team or network to reduce risks.

Rent value is based on the county and number of bedrooms.

From a tax standpoint, there are additional disclosures to make when selling a business asset for less than fair market value to a related third party. 

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.