My advice is to make some offers and use your brother and the due diligence period to make your final decision. 

Only thing you are moat likely referring to is the eviction moratorium finally being lifted. 

I have been following and learning from Bigger Pockets for years. I never had the opportunity to really apply myself to real estate because of the military. About three years ago I decided to retire after 25 years in ...

for example, if land was worth 200k (by county assessor in 2022) but apprasied at 50k at time of purchase in 1988, which number ultimately gets subtracted from the final sale price to calculate the capital gain?

It would kill us if we worked all these years, finally cashed out only to put the proceeds into something that locked our funds up and then handed us back 50% of it.

One would be we all continue to hold, another is we decide to sell and take our equity and the final option is that we want to buy out the third partner who is largely the 'money' guy. 

When I finally reached $20k I approached my father and explained to him why investing in real estate would be a wise decision for me to build wealth.

I've been a long time lurker but now with some wind in my sails, I've finally decided to start doing more than just sitting on the sideline. 

I know I have to make the final decision if any can provide some wisdom, I will be thankful. 

Once those are completed, I plan to rehab the vacant unit and bring it up to par to the unit I occupy and finally rented out.