As I see things, my options are: (i) eat the cost; (ii) have seller adjust the purchase price down by some agreed upon amount; (iii) have seller write a check for the missing security deposits; or (iv) have inherited tenants pay a security deposit when we take over the property.

I've been in a country where nobody can own real estate.But the best of all was Turks and Caicos, where there is no income tax, no capital gains tax, no real estate tax and no inheritance or estate taxes, if that doesn't encourage real estate investing, I don't know what will.

I just closed on 2 duplexes. I know that I need to honor the current leases. However, what does that mean from a document point of view? Does the existing paperwork that has the old owner on it transfer to me or do I ...

Be prepared to talk pros and cons. if inherited them may have stepped up basis so no tax consequence.Would you pay a premium to get terms?

I am currently looking at a deal in my area that is FSBO and the current owner has a tenant in place that is paying below market rent. The tenant is paying month to month and there is no lease in place according to th...

Do your due diligence with any tenants you are inheriting. 

Inherited property, gifted property, that sort of thing.

Next if you inherit the house there is a free stepped up basis. 

The current owners of the land inherited it and are very poor so have not been able to develop it or do much with it at all really.

For passing it onto the kids, my understanding is that it's best to have the properties in a living trust so there is no inheritance logistics, it just becomes theirs.