It wasn’t how I wanted to kick things off, but I worked with a contractor to get the bathroom fixed and functional.Once that was behind me, I focused on improving the building and maximizing income:I installed a shared washer and dryer for the tenants, a major upgrade that added convenience and increased the property’s value.I rented out the two garage parking spaces, bringing in consistent revenue.I also raised rents for the second- and third-floor tenants I inherited to be just below market-rate.

Then your heirs can inherit your position and keep it going every 10 years.....etc....as compared to the MIN which is due in 30 years.For example here are a few recent CRE deferred sales trust deals:- Owner who sold a $34M apartment complex and moved his funds into a Deferred Sales Trust. - $18M Business Sales of Veterinarians who sold multiple practices in Virginia and Indiana.Another example, was for a couple who sold their primary residence for $26M in Newport Beach defer $6M in capital gains tax.

I imagine you’re right about the eviction and at the end of the day it will cost me some money, but at least I’ll learn the process and how to better screen tenants (I inherited this one).If you ever get up to Boston let me know.  

Occupied with inherited tenants or vacant?

I’ve posted some pictures of how I inherited the home.

The only other uncontrolled factor would be inheriting tenants and evicting them.

Quote from @Scott Mac: Safety - Inherit a fully paid for SFH, in decent condition, in the neighborhood you live in, and rent it out to long term tenants who you are comfortable with.

Knowing the seller consisted of family members who inherited the property this year and had never actually seen it I offered $56k the same day it hit the market, cash, and close in 2 weeks.

You could be in an expensive market, like LA, but you inherited a property or you got a killer wholesale deal or subject to and the numbers could be very attractive compared to buying off the MLS for full market price in the same market.

After owning the property for 1 week and putting in a lot of sweat equity, I've concluded that I want to keep the Inherited tenants based on the condition of their living space and the quality of the people, Knowing I want to keep them to save myself the headache of a  turnover and vacancy of a projected move out If I were to suddenly increase rents.