There are 2 other out of state siblings that may have a claim.

Your up-and-down relatives (parents, grandparents, kids or grandkids, etc.) can't live in it either but weirdly your side-to-side relatives can and that includes your siblings.

There are 6 other of the fathers siblings alive.

Just for reference between my grandpa, his two deceased siblings, and another landowner in town, they own 15,000 mineral acres of which roughly 5,000 are surface. 

@Jason Gravesi wish my parents would've done this for me and my siblings when we were younger!

It is a goal of my father's that if he does make a bulk investment somewhere, that all 3 of us (my siblings) be able to benefit equally from it, not just me.

Also make sure your siblings know.

I also co-own a nearby single with siblings.  

Then attorney calls me and says "they cant sell it to you, because there are two other siblings that passed away, so their shares go to their children" in short I have to find those other 8 people. 

The first idea was to 1031 the Venice house, giving each child enough to pay ~$500k or so down on a house.Pros: higher payoutCons: they have an existing tenant whom they are collecting $4k/mo from that they would lose, each sibling is looking for completely different things, so the timeline of the 1031 is scary in this real estate market, the house would be out of the trust.The second idea was to take a loan on one (or both?)