The concept is that property is passed to heirs at a stepped up tax basis, that, if sold, will not result in depreciation recapture, or capital gains taxes for your heirs. 

Quote from @Kody Smith: without getting too deep into my finances, what my strategy is...1. take loans to buy properties (leverage)2. fix/flip for day to day cash flow income3. use some of the fix/flip income to buy consistent cash flow through:- business acquisition, - commercial properties (MF and store fronts),I have no intention of doing ALL of the management myself, I will hire management as needed (medium term goal)my expected core role is money provider, evaluating the numbers, making decisions, and connecting with investors, wholesalers, lenders, contractors, and property owners.while I am just on step 2 of the journey, I am looking toward step 3 to stabilize, and not worry about if house prices drop mid project or not (or not worry as much) So to be fair this is more about obtaining and growing a real estate business not simply buying rentals for cashflow.

What are the steps to getting this accomplished?

There’s never been a better time to step into the booming mid-term rental market.

Joining BiggerPockets is a fantastic first step – it’s where so many great real estate journeys start.

I really like LLCs compared to corporations because of the free stepped up basis for passing property to my children. 

Find a local meetup is your first step.

I have a city rowhouse with a 20' sidewalk and 5' wide steps with 9 treads and two 7'x7' landings.

Anything past that might feel weird.Good job going to your first one, that is a great step that too many people miss out on.

HML lenders want to see a clear path to profit, so ensure your ARV and rehab estimates are solid.For next steps, definitely prioritize a detailed inspection to confirm HVAC and interior needs.