Now that you know who or what caused the fire, check with the tenants to see if they have renters insurance (all of my tenants must have before they move in), and then if not, you will need to file with your insurance company, and they will send an adjuster out to ascertain the damages and how much they will cover.

After that you can then choose to examine the credit history report to further ascertain their worthiness if you wish.

@Amit M. what do you think of my thought as certain markets in the US are now like prime Europe or other world wide elite locations and as such .. are going to see real estate transfer by inheritance not sale. ??

@Jason Wutzke I don't know all the specific facts, my suggestion though is to gather all the details from the operator or sponsor before assuming you are getting ripped off.Your dad via your grandmothers prior ownership and payout structure might all be legit as certain performance models only pay a preferred return based on original invested capital.

Your real estate taxes will probably also be higher - you need to ascertain when the property will be re-assessed, whether on sale or later, but in either case, when it is reassessed, the taxes will probably be higher.  

More details can be ascertained by the article David Thompson references above in how that's done.

any one can put a price on a property does not mean thats what it will SELL for or is worth. other FACTORS  as stated above pertain if its a build-able parcel or not.. thats fairly easy to ascertain .

A-defeasible fee estateB-leasehold estateC-life estateD-life estate pur autre vieI answered A, because the time is not limited as long as certain conditions do not occur.

We use it extensively to get us quick data to ascertain our rental values .

Carry on if you have done your best to ascertain that the house structure is sound, or can be made sound as a price you can afford.