We have many clients with deep pockets and large incomes that prefer to build a large real estate portfolio with our turnkey properties primarily because they don't have any "extra" time to get involved actively in real estate investing.Other factors to consider are your knowledge, contacts, capital, and other resources that may be necessary to do it on your own.

He's said things like, "I don't want to be a slum lord" "I like the liquidity of my stocks" "I can make a better return in stocks," "I don't like for my money to be tied up in an illiquid property," "I could make the same kind of money in a REIT or MREIT."

Its way larger than most of the neighboring lots. 

For larger projects I will multiply by .70.  

In those situations you want personal guarantees and high liquidity and net worth.

It would also have about $35,000 equity that I could liquidate to apply towards another property, debt paydown etc.I want to extend my ownership to at least 1 year and 1 day to qualify for long term capital gains vs ordinary income.  

Personally, I'm a Self-Storage Guy, so I'd perform a basic feasibility study to see if Self Storage Would work in this market, and if not, then pursue a conversion to the larger units.  

The PA convinced him otherwise and the PA was able to become temporary trustee as they sold the house, liquidated assets and then I suppose they sent him all the proceeds.  

It will broaden the first story of the house making it seem larger and it will break up the tall facade. 

But as I grow larger I want something simpler and I'm leaning towards Google Wallet, Venmos, or something similar.