I have flipped more homes than I can honestly count and have owned enough rentals to make most people's head spin over the years.

Is either option a good deal honestly?

Is either option a good deal honestly?

., but I honestly have no idea how to determine major rehab cost or what detailed things to look for, in terms of structural damage, lead pipes, updating electrical, etc., when assessing a property.Any advice of this or do I just higher a contractor to walk the property with me and ask for their price evaluation?

I would never close on a property without title insurance, and NEVER take title to a property in my own name.Here's why:  you may have total and complete trust that your relative is being 100% honest with you, HOWEVER, what if there is a lien out there that they do not know about? 

Hopefully that helps, I'd just honestly recommend if you haven't gotten your first deal whatever list you start with just make sure you finish it to maximize your results and don't forget to follow up!

@Bryce Strange,Honestly, that's way too open ended of a request. 

They are not trying to lowball me, they honestly just didn’t know the value that comes with my commercial zoning and location.

If it’s honest, sincere and shows true concern for your investors and asset, it will be appreciated.  

To be honest I have no idea how they would enforce this as the majority of the county is very remote and they would have to comb a lot of data to determine where to go looking for people.