My wife and I just inherited 50% of a family homestead when her father passed away here in Spokane in March.  

My father is a real estate broker out east and is eager to partner with me on this journey as well.I guess my question to you would be, what is the logical way to continue or what would you do if you were in these shoes?

(Father in-law was an insurance adjuster)

Myself, Father, and Brother in law want to to begin buying rental properties and possibly a few fix and flips. 

My father recently passed away with all of his assets in trust to to be divided equally between his three children.   

I agree with Chris, though I will negotiate a little bit.Chris-your side note-no idea who that president was (I'm not American)-I guess that is what happens when you have 15 kids and your second wife is younger than some of your older kids (as was also the case with the father of the grandkid who is still alive)! 

@Tricia O'Brien my father was (was) a modular builder and mobile home installer all my life.

The applicant(s) involve a Father, Mother, 31 year old daughter and 7 year old son.  

She and my step father bought an undeveloped land (Roosevelt California) - residential zone back in 1995-1996 I think from a realty broker that time.

My sister and I inherited my fathers rental.