I could park them at our home and work on them close by so I can help my wife when needed.  

I moved to the mountains of San Bernardino for some peace and to explore what looks like a sweet little investment opportunity.  

I've explored the site and truly enjoy the forums and podcasts. 

No I had not explored that option fully.

I've always preferred the capital gains exclusion (thus my reason for holding flips for 2yrs, as mentioned early in my OP) over the 1031 exchange but this sounds like an awesome mixed-use hybrid allocation to explore in future multi-fams lived in, even just a duplex!

A good management group will be critical in your exploration.

I met them at the first meeting that Hall Martin arranged with the State Securities Board.  

You want the local price for basic cabinets just look at kitchen cabinets on craigslist ads or price them at your basic cabinet warehouse you will see you are too low.  

@Dustan Marshall  depends on what purpose your tracking the net worth for.As @Steve Vaughan mentions if its for the purpose of securing lending from a bank they are going to want to see financial described exactly as Steve mentioned and they are going to want to see them at Book   not blue sky values.

A big key bet is getting it under better management, so seems like exploring the feasibility of that is important before locking in a contract.