Inheriting out of state need help

[Preston Goodman]

Hello, I have been reading and doing research for several months I didn't think I was ready yet but a rental property has fallen in my lap.  A family member died leaving me his acreage and older mobile home in Tallapoosa, GA its in between Atlanta and Birmingham, AL.  His funeral was the only time I have ever been to the area nor do I know anyone else in the area. I am looking to connect with someone who can tell me about the area.  The lot has 2 run down residences 1 of which has an existing tenant. I mainly just want to know about the area so that I can make a educated decision on the property once the probate situation is complete. Thanks in advance.

[Lynn McGeein]

I'd reach out to a few licensed real estate brokers in the area and ask them each for a market analysis of the property, including information on nearby comparable rental rates. If they are all similar, you'll have a good idea of what you can actually get for it, what rents should/could be, and if it's worth it to hold or sell.  I'd think that you'd also find out the current value and any existing liens, taxes due during the probate process.  Brokerages know people will interview several agents, so they shouldn't mind providing you an emailed free market analysis.  Don't rely on just one report if you're not familiar with the area or the agents there.