Subject to zoning could be apartments, self storage on extra land, sell lots, etc. 

In our situation, property managers won't likely fit into the pie since we are looking to sell the property in the open market.However, you can always leverage your "rock star" agent who found you the deal (assuming it's not an offmarket deal or from a wholesaler) to check up on the construction every so often.

They may have access to leads who are interested in selling their property at a low price just to get rid of it.9.

Or it will be deemed that you did not sell it. 

Inspection Costs - $400 Lender Fees - $1,000 Closing Costs - $2,000 Mortgage Payments - $2,500 Property Taxes - $600 Utilities - $1,000 Insurance - $200 Commissions - $4,000 Selling Closing Costs - $4,000 Home Warranty - $500 Termite Letter - $100 MLS Fees - $100 

Never sell a high-performing property with no cap ex and low maintenance to buy another rental.

My current focus - what is the process once a family member/individual has passed and lets just say in a perfect world probate has been filed and the respective family is now thinking about selling the property.

Or sell within 6months to 2 yrs? 

I ran a CMA on the property and got an average sells price of $290k. $280k is what I ran my numbers off of to be safe.

If you're looking at OOS talk to local investors (someone who isn't trying to sell you something) and property management companies, who could potentially be your long term business partner.