Inherited my stepdads property

[Ernie Be]

My stepdad passed in early September and left me his home/truck. I could sell home for around 300k...he still owes vicinity of 150k. I know it's all a personal decision however I wanted to hear some opinions. I have talked about wanting another venture with properties and it has presented itself in an unfortunate way. I have people encouraging both sides and thought I would reach out to the professionals.

[Matt Devincenzo]

I'd probably sell...rarely does a good OO property make the right rental or vacation type property. Since you just inherited you have a stepped up basis and should be able to sell and pay $0 taxes (or about as close to $0 as possible). So I'd take the sale and decide what you want to do with those funds. After all costs you should have ~$125K and can decide on another purpose bought investment, the stock market, or just investing into your home/standards of living etc.