Also consider networking with investors active in those areas who can provide insight on what’s working.

I'm interested in learning about rental property investment, looking to build a rental portfolio, exploring real estate investing to replace my income.

If it is last rental rate charged, then you may have to get creative to accomplish what you want to while still working within the law.Here's an idea to explore.....If it is a 10% increase over the last rental rate you charged, consider using a step pricing lease if allowed by your state. 

In addition I am giving him freedom to explore (to a certain extent) on my dime.

Ive been actively working to learn more about the nitty gritty legal details on lease options, rent to own, etc., for the past few months. 

It's been a long-time dream to do a new build and so I'm actively working to find land and begin the process.I agree that the profit margin you post seems very small.

House hack is not practical for everyone but worth exploring

To avoid unnecessary liabilities, delaying acceptance or exploring a cash alternative may be the safest financial option.This post does not create a CPA-Client relationship.

Currently active STR Lessons learned?

Leverage equity, explore house hacking, and continue learning through books, podcasts, and local networking to refine your strategy.