The vast majority of the value in the business is the Intellectual Property and the actual website itself.  2) Would it ever be possible to say 1031 exchange this for some investment property?  

What paper tells us about returns is usually vastly different than what the streets tells us about returns.If you want to invest in these low price point, depressed areas with tired housing getting facelifts without the underlying community getting a facelift, then you will face stiff odds for finding success.  

I just bought my first investment property last year in September 2014 and am learning from all the vast of knowledge on this forum.  

They usually pay about 30 days prior and hold two months in reserve to ensure sufficient funds are available.

They would learn some of the rehab skills, the pm skills, public speaking/negotiating, how to handle contracts, and most importantly I would help them learn to be self-sufficient.

I started listening to the podcasts and was really impressed by the vast amount of knowledge and experience shared by everyone on the show.

<---I believe I have a sufficient market to work with.Your first step needs to be finding the right market to work your basic strategy of buy/reif...and buy again.  

Go back far enough to assemble a list large enough to create the lead volume you seek.Only you can decide how many records to work. 250 cases will take some time to go back in a small community. 25 will be manageable but may not be sufficient. 

It seems that the vast majority of management companies in our area do a very poor job.  

If your uncle is willing to do that, then just discuss with him what he's looking for.  33% of the profits might be sufficient, or just 10% interest annually might be OK.