It's on the larger side for the rental market in town and would probably command about $3200/mo gross rent.

R-2 is typically designated for a residential zoning, likely higher density / multi-family. 

If you want to network or ask specific questions about your local market, go to your local real estate forum and connect with investors from your area: https://www.biggerpockets.com/forums/86-local-real-estate-networking5.

Palm Beach Real Estate: A Story of Growth and OpportunityPalm Beach Single Family Homes: A Market on the RiseThe single-family home market in Palm Beach is showing promising signs of growth.

DSCR loans are based off of down payment, credit score and either actual or market rents so it helps to supercharge an investor's real estate goals and net worth.

Amazingly, it is apparently nearly impossible to get decent comps for this so I'm not sure how to approach figuring out whether to outright sell it (and for what price), fix it up as a rental, or market it as a knockdown for the land. 

Mom's 50% and Dad's 50% of fair market value.

Would love to know as well as it would be great to collaborate among colleagues especially since we have such a small market.

The journey from learning to taking action is so important, and it sounds like you're on the right path.If you're considering expanding your investment portfolio or connecting buyers with prime opportunities, I’d love to share some insights about the Indianapolis market.

I'm happy to share thoughts on Bryson City as well as other markets here in Western NC, including the greater Asheville area, if you want to set up a call.