Still have a lot to learn and a lot to ask before I'll be ready to start though. 

An experienced agent will list your property with the language, "no showings until an accepted offer", to avoid violating your tenant's rights to the peaceful enjoyment of their home - possibly resulting in their lack of cooperations and a lawsuit against you.

I have financed a number of STR properties and they will usually be appraised as a pure real estate as vacant value and a cash flow adjusted commercial value, sometime separated as going concern and real property.  

But more for you so that you are not left with a lot of money out and a loophole for the other partner to get out of the agreement and not have anything to go after them on. 

A colleague of mine has bought two properties owner-occupied back to back in Arlington (with a 5% rate and a 7% rate) doing basement conversions and renting rooms, lowering his effective monthly payment on each property to sub 2K each time.

@Zach Howard there is no agreed upon Classification in the 1-4 unit market.We've done our best to logically create a system for our market, mostly based upon relative sale prices, but also using crime rates, rents, occupant income and a few other variables. 

At minimum, I am looking for the name of the deceased, a name of the personal rep/heir, and a name/contact for the attorney involved. 

By staying informed and adaptable, investors can find opportunities in both booming and challenging markets.Overall, with careful planning, thorough research, and a strategic mindset, real estate investing can be a fulfilling journey towards financial success and stability.

If he qualifies, create a new lease with all adult occupants (and a sublet provision) and get it signed and place it in a known location.good luck 

First, most investors and owners of real estate related businesses are in one or more of the following situations1- they’re unable to duplicate their expertise that drives the ROI and they are at their personal max capacity as to time2- they’re obtaining high ROI by use of excessive leverage 3 - they’re obtaining high ROI by taking excessive risk4- they hit correct timing in the correct market, and this is not necessarily repeatable with any probabilityIn order for an investment or business to scale, we need the ROI (on a risk adjusted basis) to be sufficient to cover a PREMIUM risk adjusted return to passive investors; all expenses of managing the assets and the business, and a significant return to the “sponsor” providing compensation to him making the work, risk and time worth while.