Gifting the property to your son transfers your basis ($265K) to him, allowing him to sell at his lower tax rate (0%-12%), but requires using part of your lifetime gift tax exclusion.

Does anyone have advice on how to find in person meetups?

Can I assume reserve price will be the same 180k or do you think FM has a formula in place in which they are ok to let go at X% below their "purchase" price so as to not be left with the house on their hands ?

I think with your faith-based parameters, turnkey would be the safest option as long as paying for property management is ok.

Quote from @Account Closed: Hey guys,I have no experience but after looking at all my options I have come to a conclusion that my best move is to buy land and develop multi-family apartment building (15-20 unit) 2 story somewhere between Miami Jupiter.Budget for everything 3MDone with cash + 6% line of creditLooking for long term holdI would love to hear any insight on what areas I should look at, ballpark of build price (hard costs and soft costs) and would love to network with anyone in the area on this.ThanksIf you're looking to develop a 15-20 unit multifamily building with a $3M budget between Miami and Jupiter, there are a few key things to consider:Land Budget: Aim to keep land costs around 10% of your total budget.

Ryann McNeil - would like to connect with you about the Cahokia Heights market.

That way you'll benefit as revenue goes up over time and your portion will go up too. 

A HELOC may be an option but I'm full time real estate (no W2) and have a couple properties and my DTI is relatively high. 

Are you looking fixers and rent-ready, or just anything where creative is an option? 

Hey Melvin - Welcome to BiggerPockets.