Do you have a set list of expenses you work off? 

A property's operating expenses are those that it incurs on a monthly or annual basis and are considered regular and continuing.

What are your expenses compared to income?

The property brings in 5k a month, has 1k a month in expenses.

Or am I just getting paid to do another job?

He even paid for his own survey (I saw the surveyor working shortly after our discussion), and then he left a natural buffer area between us and his new homes. 

The only people making money in NYC are the people that invested years ago or the people that are buying land and building the expensive condominiums on them.

@Eric KajkaTHanks for the post   1) your FIL  will have  approx 2-3%  of selling expenses  assuming there are no realtors involved ..assuming 600K sales price  and existing loan amount  he will likely  net   a bit under the  400K  needed for AZ house ...he  will also likely have  some  costs  involved  with moving and buying the  AZ home .   

An easier way of starting is to get your real estate license and work a few years for a Borker team and get paid right away. 

We did just close on a new build w/ RTR that appraised for $29,000 over what we paid for it!!