They will have or generate some sort of credit history or some sort of basis for a bank to give them a loan.Remember, the EIN is basically the "substitute" for a SSN. 

@Dan TranOK - well, there is no substitute for actually knowing a neighborhood.Pick out a couple and go visit.

A performance deed -- essentially a substitute for a deed in lieu of foreclosure -- causes problems with title insurance on a subsequent sale because the deed was not executed after default and good faith negotiation with the lender (the typical DIL scenario). 

But on the flip side REI allows you to substitute cash investments with your time and your energy.

"Passive" cashflow from rental properties is a poor substitute for these values, not to mention extremely risky.

Also deed of appointment/ notice of appointment of substitute trustee.

We can substitute that former line with really anything that generates profit, it's the latter part that we cannot substitute.I own soft assets, hard assets, and small businesses.

Advice on this forum is not a substitute for hiring an accountant that specializes in real estate taxation. 

@John Smith, 1031, death, a charitable remainder trust, possibly a 721 upreit (although that only acts like a 1031 and defers temporarily),  and possibly a sale and a purchase in the same year where you cost segregate the purchase and take whatever bonus depreciation is available (again though a weak substitute for the 1031 exchange).  

I think it's especially important to substitute knowledge of an area with either strict numbers (that will likely keep you out of the game these days) or a solid team on the ground that knows it for you.