This is great advice, however, a cost seg will not be efficient on a single family home, the cost seg will likely cost you more than any benefit.

On one hand we bought the property, for all its risks and all its benefits and on the other, it was initially owed to the previous owner but perhaps was one of the reasons they chose to sell.

If you falsify the document to her benefit, could you give me your info so I can claim it on my taxes?

It doesn't seem like I would get any of the  tax benefits of a multifamily, so are there any advantages of owning 3 condos over a multi-family?

You should also include several other benefits for property #2: appreciation, tax benefits, experience, relationships, etc. 2.

Definitely benefitted from the MHP University from Frank Rolfe and Dave

Rents:~1700Appraisal: $230,000Cash: ~$33,000Loan amount: ~190kMoney in deal: 15-20k Hard to quantify benefits: + 3 years of li

And we wondered, what would be some possible benefits of going that new construction route and some trade offs?

It will provide you the benefit of offsetting your living costs, collecting rent (possibility of cash flow), and utilizing a low down payment.

Your father did you guys a solid and everyone should benefit.