Florida hmm... hurricanes, humid, big bugs, gators, blue hairs driving wrong side of road (soon to be one)Texas- would not want to be in a border town, property taxes 1.6%, hot, humid on gulf...

Most 30% ROI are either gambling or simple fraud these days.In legalized-professional syndication anyone offering 15% is big big big red flag :)

Maybe from appreciation if you are willing to gamble.

It's way out in the boonies away from most employment sectors so I'm betting not much.Probably the two best plays are to either sell it and try to use that money for some other better investment, or to hold onto it and gamble... you just might be waiting a loooooong time.Call up local agents in the area and see what their opinion is.

It's a gamble for both of you, but at least you know the price up front.When I was younger, I knew an old guy that went to Florida every winter.

Retirement accounts are unhedged gambles on future tax rates, and the odds looks poor.

Most neighborhoods here are bordered on at least one side by a busy street.

This is gambling, you're trying to score big, and that always comes with risks.If he was a paying tenant this would be a lot simpler, but not necessarily in your favor.  

I paid around 130k for it at the lowest point after the crash (and it needed some work).I'm sure you could find a property for 30-60k in metro Phoenix, but it certainly wouldn't be in an area that I'd want to deal with.I'm not sure what the rental market looks like in the AZ/Cali border cities like Yuma, Parker, Lake Havasu etc, but I imagine the mean prices would certainly be closer to that $60k point.

You would be best advised to seek out both an accountant and lawyer who specialize in cross-border investment to help you plan your execution.