A friend inherited a single dwelling RSA-5 in District 6 due to recent passing of an elderly relative.

So, there are $30k in inheritance taxes due to clear the title!

Side note: I can cover about 90% of the lease with the two other tenants - the tenant described above was an inherited tenant from the previous owner (never will do that again) and is paying way under market rent, just not sure how much of a process eviction is in Elizabeth. 

However,I just inherited about 175,000 and can do with it as I wish.

You can take some risk and get an easy 10% (buy a rental off the MLS)... or you can invest some time and inherit more risk (buy directly from sellers or distressed properties with unknown issues) and get even higher.What are you comfortable with?

We inherited tenants in a duplex we bought several months ago. 

I have inherited Money Order tenants, and had a PM who lived in walking distance of one property, who retired a couple years ago. 

There are things that you can do as part of your lease requirements to lessen your liability or shift the coverage to the Tenant. 

The previous owners had inherited the property and realized they were in over their heads managing the apartments.

The previous owners had inherited the property and realized they were in over their heads managing the apartments.Long term goal is buy and hold for cashflow.