Most municipalities are forgiving when you a buy a property and inherit these issues provided you take care of them quickly but you already own this property, they may not be forgiving

I also have about 150k primarily in stocks.I have 35k in retirement accounts and about 65k in a inherited ira I can use when ever.

Regarding your question about refinancing and cashing out the equity in the home, the Fannie Mae guideline states:“The property must have been purchased (or acquired) by the borrower at least six months prior to the disbursement date of the new mortgage loan except for the following...”The exemptions to this rule being if the property was purchased with all cash and qualified under the delayed financing rule, or if the borrower acquired the property through some form of inheritance (Divorce, etc).

Hey BPthis guys posts are all over the placeone post stated his client had the money from inheritance, not him.he is looking for RE agents,  loan agents,   partners, etc.when I see starting topics like his,  smells like dead fish to me,   I run away from his deals.proceed with caution with this new BP member.go get a team or mentor to help you local where you live,   you throw out bait,  I smelled it,   look like court house drama to me.    

Had the property been inherited, then the wife/aunt would get step up in basis.The sale would be capital gains.

@Jacob AbuataYou could also try marketing to apartment owners that could be motivated to sell (i.e. people that have owned the property for 30+ years, owners who have inherited the property, etc).

In August we closed on an 8 unit property and inherited the tenant base.

we are talking to someone we know about buying his inherited property.we just did a title search, it has a lot of taxes owed. something else I didn't think about, it shares a common walkway with other houses. 

In instances of purchase of property, lease is executed subsequent to buyer entering into a rental lease agreement with inherited tenants.This agreement is preceded by review of due diligence documents provided by seller to buyer.Tenants acknowledges that Agent is entering into this Lease in reliance on the information contained in Tenant’s rental application and or all other information provided to Agent by Tenants or Tenant’s current landlord/property management team in the event of a property sale, all prior to this lease agreement.

Here's the deal:Two brothers inherited their mother's home when she passed away.