My husband and I did this very successfully in a similar position to yourself and have a nicely cash flowing duplex now.  

As another option, from what I see from the podcasts, you have so many options from your position.

If it was a hot stock, you would have already liquated your position.   

I could fix it up to rent again and have a $350 a month positive cash flow.

Quick flip w $75k profit or keep $600 month positive CashFlow ?

What action needs to be taking to get him the rights back to the house so he can sell and move on with his life.

The cash flow is positive, all units are rented.

Charles,I would suggest you place you money with an experienced investor and take an equitable position on a flip project.

Unless your goal is to teach, being educated without taking action is not going to get you very far.Champaign is a city with great investing dynamics - the best thing to do is get started.Is there anything stopping you from going out and buying a property?

@Lexi Teifke - As always, the theory like the theory, but in practice is what counts.The internal rate of return hurts my brain just to read the definition, never mind calculating it: internal rate of return on an investment or project is the "annualized effective compounded return rate" or rate of return that sets the net present value of all cash flows (both positive and negative) from the investment equal to zero.