I think it's just a matter of being a bit creative and finding opportunities to add value to a property.

Let's say you paid $250k for it, and it's now market value $500k.

Are you buying amazing deals or are they closer to market value?  

Why not take his name off the LLC and put it in your name now while the LLC has $0 of value (or whatever nominal amount your articles of organization or operating agreement say that you contributed)?

Platforms like BiggerPockets, local REI meetups, and Facebook groups can connect you with investors seeking opportunities.Joint Venture Partnerships: Consider partnering with a seasoned developer or investor who can provide the capital while you contribute your vision and operational effort.Hard Money Loans: If you’ve identified a property, some hard money lenders may fund the purchase and development based on the future value (ARV) of the project.Crowdfunding Platforms: Sites like Fundrise, Groundfloor, and RealtyMogul cater to real estate developments and could be a great way to gather capital.Seller Financing: If the land seller is open to it, negotiate terms to finance the purchase directly with them.2.

One was purchased a  few years ago by an out-of-state owner who has decided to sell and has doubled in value.

To me the value in diversification is that it helps nudge you to look for other opportunities and revenue streams where you might otherwise just be content to stay in your lane and then you'd never find anything new. 

Both allow you to avoid touching retirement funds while leveraging the value of your properties.

Self How did you add value to the deal?

Cash flow is crucial, especially if you depend on it for your monthly income.Selling the property for $170k, which is above its market value of $120k, might seem like a good deal initially.