Moved out here a year ago and really dont want to give up my lifestyle here but know it'll be way easier back in Ohio.

Equity/partnerships are messy: Goals, personalities, egos, lifestyle changes can all make partnerships go astray.Your grandfather could have been wealthier, perhaps much wealthier with partnerships, but I would almost guarantee he had an amazing quality of life. 

There are multiple factors at play in determining your capital gains tax rate.

It logistically makes the most sense with where we're at, and I factored in standard PM costs when I analyzed this deal. 

We have a lot of people selling their homes and having a gap before finding a new one, hospitals with traveling nurses, and other factors which make this type of property desirable in our area.My question is… how does it work?

I like to get construction loans on properties with hefty cap ex costs and factor that into the deal.

These two factors are integral to the "buy & hold" strategy and wealth creation.

ISO- Anyone with experience factoring or securitizing future incentives including lump sum Historic grants, Local Sales tax rebates and Federal Income tax creditsAbbreviated Background - I am redeveloping a historic property.

The biggest factor or problem that I see is that sometimes people don't set their sights high enough, they get lost in the details worrying more about $$$ versus %, or they shoot for an industry versus the product. 

I think you are going to get a wide range of opinions here because ultimately where and how you choose to live/invest can be a very personal decision and vary based on personal values, desired lifestyle, investment strategy, etc.