As long as the property is in good shape and is able to market itself in the event of a vacancy, then I think you've got a stable, good performing asset. 

A home run between 15% and 20% and, if above 20%, a grand slam (as long as the market holds).Is it fair to assume 50/50 split of net profit at closing?

The long term play would be to pivot to MTR/LTF afterwards.

It could be any side-hustle you want just as long as you like it and your able to save some extra $$$.2.

If your parents have a long-term mortgage on it already when offer to manage the property while they're in the Floridas for a split of profit?

If you flip a house with in a year and incur a tax rate, “ordinary income”then does all of your other income from your rentals “long term income”get taxed at the same rate as ordinary income?

Land flipping looks to be very rewarding in the long run but a lot of work.

Currently, I'm only offered 27 hours of work per week at an average/below-average pay rate, which isn't nearly enough to save for a down payment or qualify for a loan.I've tried selling belongings to generate extra income, but it's not sustainable in the long run.

Which that benefit alone ends up paying for itself in the long run.

This county has big universities, colleges, and hospitals, and has cash flow for long-term/ mid-term rentals.