If they proceed onto offers and if accepted work hard to get each duck aligned in turn, financing, rehab, leasing, management etc.

Typically they align with the comps method.

But there are bad markets to invest in, and those are the ones you don't understand, or your strategy is not aligned with actual demand.

Real estate and 401k contributions are just two components of the overall strategy, you need to evaluate all available options.

Take time to accurately as possible forecast known short and midterm Capital expenditures to help with the decision.If you convert property to rental, as you enjoy cap appreciation on the property, it will also provide financial flexibility to use the growing equity (refi, heloc) to invest in other properties or opportunities.You can also consider a 1031 exchange if it aligns with your strategy. 

You could price out the components you need from HD or Lowe’s for estimating because those are going to be your most expensive sources but have the easiest to find prices online.

That isn't bad if the asset has some value add component that you can realize over a couple years and then refi if needed.

I appreciate the help and you both have given me some good questions to ask her to help get both our goals aligned.

If your looking for highest cash flow, this will never align with the best location!

Indiana requires:  Key components of property management (renting, leasing and managing) are considered real estate activities under existing Indiana real estate licensing laws.