The ultimate tax-free transfer would be to inherit the property at a stepped-up basis.  

Ultimately though, I invest for cash flow.

Let me provide some context to help you understand my situation.My GoalMy ultimate goal has always been to generate passive income through rental properties. 

Check with CPA but furniture has its own depreciation schedule (7 years I believe).Ultimately I would check with your CPA to see if it is even worthwhile, and your lender to see if it is even possible.  

I would suggest you be very patient with the surviving family since they don't have to honor the contract. 

Those policies penalize all future prospective tenants in those markets, and while landlords complain, ultimately accrete value to the landlord at the overall expense of the city's potential.

My gf and I have a household w2 income of 170,000, before my income from my rental property My ultimate question is what should I do.

I hope you get more feedback and ultimately find a market that suits your investment needs! 

@James E.Hi James,I'm not a wholesaler... just an investor who has dealt with wholesale deals.My broad perspective is that wholesaling is a marketing job - where the wholesaler (on the surface) is trying to help a seller, but ultimately is trying to do that in a way that ends up costing the seller more money than it should have, had the seller taken more traditional means to achieve that sale.  

But if you to a more wise and slow approach, you can find other ways to generate additional income, build up a 25% DP on a duplex that cash flows after all expenses and you have an EF fund, well you will sleep better at night and the odds that your investment will survive the tough times in your life is far greater then someone who sleep well at night with tons of debt who if anything should go wrong, which it does in life that person may be bankrupt.