You can build a home for under $100 per square foot.  

Spec: 2456 square footPurchase price: $75000Rehab project:  $9200 roof$16800- paint, flooring, new appliances.Units: 1100 sq foot 3 bedroom 1 bath with washer/dryerEnd lease price estimate from $1000- 1100 per unit.ARV value:  $150,000Cash out refinance:  70% LTV.  

I'm aware that there is only so much I can learn from articles and webinars without actually dipping my foot into the realm of real estate.

If you've built garages before, you know just having a concrete parking pad most likely would not meet the requirement for a garage floor due to the footings/supports for walls ect. 

Not a single drip or two per tube, I am talking a drip forming about every inch along the 4 foot tube, on every one of the approx, 24 tubes in the basement.

Include an additional $4 to $10 a square foot for distribution lines and heads.The DOH (NJ Department of Housing) will verify all of this before issuing you a 'green card' to be able receive your Certificate of Occupancy (CoO) to rent the spaces when your construction is complete.

Yes, the new footing needs to be able to carry the weight of the garage door and accessories.

Then - you can easily go to a home and say its listed for $250k (bc its florida :) ) and you see it needs a kitchen: mid level: at $6500 to $7000 with counter tops: and needs flooring at 1.80 per sq foot and labor another 1/2$ a sq ft. 2 bathrooms: each for $5500 to $6500 : and paint etc. then you can see that if you buy the home for $230k and home needs about 30k in renovations: (you are at $260k) and home can sell (ARV) for $400k : you will make _______ profit after cost of sales and closing costs.

In my market, price per square foot for SFH and multis is very similar, but rents for multis is probably 20-30% less than you could get for the same unit if it were a SFH.

You could also talk to the son, ask him if you can takeover and setup management, maybe he'll be relieved.