Who inherits each of your interests if one of you dies?  

The owner inherited the land 2 years ago.

Also, you will pay ordinary income tax on whatever gets distributed to you from the inherited IRA, so the $100,000 you are talking about "pulling out" from the inherited IRA (assuming you mean as a distribution) will be taxable ordinary income this year.However, you do have the option to invest the inherited IRA in real estate with a self-directed (inherited) IRA.

My purpose for of starting a rental portfolio is create an inheritance for my children who are not biologically his.

If you want to accelerate your progress in anything, sourround yourself with people who do that thing at a high level.Did you inherit a tenant?

Asset protection questions, tax questions, and inheritance questions can lead to different answers.  

Other than that there really aren't any differences between starting your own or inheriting one. 

I inherited my father's home and am entertaining someone who has cash offer for the house.

That I’m not wasting my time looking into the possibilities that exist.Long story short, I’ve inherited part ownership in a rental property passed down from my grandparents.

I inherited a tenant in a duplex who I am unable to evict because of CA laws.