Since you missed the 2 out of 5 rule, capital gains taxes might take a chunk of your profits, so consulting a CPA would be smart to understand how much you’d actually keep.

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.DM us if you’d like to discuss this logical approach in greater detail!

It is my understanding that gifting a property does nothing to step up basis as the capital gains would follow the gift. 

Truthfully, I am not that big on coaching programs BUT, I can understand the benefits of having someone in your corner teaching and coaching you on the ins and outs of real estate investing every week. 

Thus, my main goal joining this forum is to try to gain confidence in the decision to get into real estate investment and better understand the risks that I may not be considering due to my lack of experience in the field.

Commercial real estate deals involve larger sums of money and require a deeper understanding of the industry, so it's important to work with someone who has expertise and experience in this space.

You understand some of the basic concepts, but also have some giant holes in your plan.

I am considering getting into this space (looking at some courses), but worried that its too late, and that deep local market knowledge/understanding of buyers/connection with developers etc is required to make this work, which only incumbent/long term investors will have and would be hard for a new entrant starting from scratch to catch-up...is my hypothesis valid in your opinion ?

It helped me to do more research and better understand that I’d like to buy property elsewhere and rent that out, rather than renting my current property.

They either don't understand your laws or they don't have good policies in place.