Or, should I present myself to markets as a real estate professional/ investor first and offer ad hoc accounting and tax services to real estate investor clients? 

Also, I know this would be a "flip" and is somewhat controversial when referring to real estate investing and with that I have a question if it is possible to take any equity from a deal like this and reinvest into a true income property to defer taxes?

Rents are under market, and there's some deferred maintenance, both of which we like.

It's definitely appearing not to be a good investment of estate money.Since my brothers attorney has been informed of our discovery, magically recent appraisals have been presented and an appraisal for the childhood home has been presented dating back to Jan 2021, but nothing said in the appraisal that is was done in January. 

Unless you have specifically hired the inspector to give you an OPINION on a home, then what they should be doing is "calling out" items of note . . . which are present in EVERY home, regardless of age or condition.The inspector ALWAYS works for the person that hired them; either the buyer or the seller. 

Being a good and present family person was my top reason for earning my financial freedom. 

Your basis carries forward from the old to the new property so whatever gain is deferred in the 1031 is still there. 

Price range will keep you out of primary markets(sub pockets possibly) at present for the most part.

There should be absolutely $0 in deferred maintenance and all systems as well as roof should be up-to date or near beginning of lifespan at a minimum.  

Continue to stock pile cash until your next opportunity presents itself.