@Jon Sidoti We aren't too far from each other, I think we could benefit from connecting & discussing opportunities!

You now have an asset that you can easily refi to pay the cap gain taxes and you enjoy a stepped up basis in the property.3.

I've gained confidence and know what to look for and HOW to look at it.

I am very eager to learn and gain more knowledge in the area of investments.

Anticipated $ benefit, (vs leaving it as a garage)?

I feel it would gain him more money by helping me invest then leaving it in the market.

Draw up an option to purchase that allows you to sublet the property or do a land contract if they are legal in your area for the property if he is unwilling to transfer the deed without getting paid in full so you both have something in the deal but benefits as well.

By selling to the tenants through an exchange I can buy two new rental properties and possibly double my cash flow, while recapturing tax benefits!

If you don't intend to occupy one unit ("house hack") you might consider looking at some of the cities outside of the metro area that still benefit from the population growth of the city but have a lower price point.

I'm still not sure how much that willingness was financial, or just wanting to me succeed, with some financial benefits to the owners..