So, the two key elements for being considered a real estate broker are doing real estate transactions "for another" and "for a compensation," exactly as we talked about previously in earlier posts.

I would wait until you inherit the 50% from the father and sell it to avoid the the large gain as your father basis must be low compared to fair market value.

But those monthly payments are crazy high as compared to the balance because of the shortish amoritization period.They are typically a variable interest rate. 

I always remind folks that comparing the IRA to your taxable self is not generally applicable. 

Did you call around for local contractors and have them come see the property and compare multiple estimates?

Compared to the newer developments, our community is bit outdated (built in the 1960s).

Every deal analyzed thus far doesnt even compare when analyzing return.

Compare that with say, investing in a stabilized hotel deal, at an 8.0% cap rate.

I realize the cost factors on the rental but I am looking at a deal and worry about how to compare the value of the property with or without the pool. 

Investment quality compared to Worcester, MA, Lowell, Ma, and other parts of RI?