About a month ago we stopped receiving hot water in our showers.

lol.Or you can add a gas range, water heater, furnace and dryer but no 220v circuits and it's now "not" a multifamily??

In a hot market, I would think it's reasonable to expect to find someone willing to pay 80k in a relatively short amount of time, still leaving 60k profit, give or take. 

Its a hot area right now for sure.

Also, the water, although tested, was not tested thoroughly enough.

An outside portion of the line is impacted by roots, and it is holding water.

My multi-families that have separate meters pay their own electric/gas and I pay water, sewer and trash.

I guess it would be just water.

Maybe Toss in covering water sewage etc.

For instance, if the farm has "hot assets" (e.g. unrealized receivables, substantially appreciated inventory, etc) your FIL would have to realize ordinary gain from the sale and can't defer that through installment.A Sec 754 election needs to be discussed as well if you're buying out your FIL's interest but your BIL is staying on.A good CPA is going to cost you, but will save you far more than his/her fee by doing things correctly and efficiently."