He is just going to demolish the house, as it sits in the way of his project so I can see why he thinks that is a high asking price.

I'm highly unlikely to gift my properties to my children. 

The ones that seem to be meeting with success are targeting Raleigh and Durham properties with a good proximity to something in high demand (airport, university, downtown, hospital ...). 

Go fly high and leave all the nay-sayers behind.

To answer your questions, I am not naive enough to expect this, but I am naive enough to not know the answer to this question, and ask it in this forum.I do not do this at my job, but that's an apples-to-oranges comparison, as I work a salaried position that affords me a high degree of autonomy and flexibility in deciding when I work and working at irregular hours does not equate to more money for my firm or myself.

To help you in your search: be sure to find an accountant who is willing to grow with you, and is not too high priced fee-wise.

We now own a highly desirable duplex with instant equity, cash flow, low money down, and a locked interest rate.

Daniel, you're getting into a very nuanced area that is highly specialized, and the rules need to be followed to EXACT details to make it worth your while. 

The specific area is a hot area with lots of flips happening over the years and is highly desirable for young professionals such as myself working in the growing tech presence in the city.

In short, unless you plan to do some significant rehab and hold it for another year, I doubt you could increase the valuation with the high revenue.