The price-to-rent ratio makes sense from an investment standpoint, but further research is needed to identify whether those respective areas will prosper.

Would it make sense to reduce risk and use his connections first and invest it that area?

Just don't see the S-Corp or another LLC having a place here..I've heard tax advisors say it takes around $70k min of self employment income for the break even point for S-Corp to make sense.

For the $525K property, with the low mortgage rate(you will probably never get a such low rate), it might make sense to hold onto it for now, especially if you can still sell it as a primary residence within the next three years and avoid capital gains taxes.

I dont have enough properties for rent redi to make sense yet but worth a shot to check out. 

Once you have your goal figured out it will help you dive what areas make sense for your goals and budget.

With today's high interest rates, it usually doesn't make sense.

that make sense, thank you !

Since you already have an offer, it’s not really about whether the property will sit for six months, it’s about whether keeping it makes financial sense.

@Dhruvin Bhadani - At face value, these numbers make sense.