Inherited Property from Aunt with Mortgage... Help

[Kamil D.]

Hello BP,

I recently inherited a house from my aunt. She left behind a handwritten will with a witness signature and it states the property was left to my brother and I. My brother and I both are okay with selling it or renting it out. Currently, the house is worth approx 120K and the remaining mortgage is only 27K. Other properties in this area rent for about $1000 a month and I am in Tennessee. I want this to be my first rental investment but to be honest my brother is not financially savvy and I would probably end up do all the work and he would just participate in the upside with any help. Additionally I run my own sole proprietor business so mixing financials with my brother may not be the best idea for my business. 

Question, since I really want to manage my own property without any interference, is it best to sell or based on the numbers is it better to rent it out? 

Also, since the deed is still my aunt name and it has a mortgage. How do I sell a house with a mortgage that is not in my name without going through probate?

Also, if I did rent the property, since the homeowners insurance is in my aunts name, what happens if the house burns down and I contact the insurance company but the policy is not in my name.

I have so many questions about this property and really dont know where to start so any assistance will be greatly appreciated.