Their heirs will inherit the property and receive a step up in cost basis and the capital gain and depreciation recapture will completely disappear. 

Generally, the parties in a probate include an attorney, petitioner (PR), heirs/beneficiaries (those standing to inherit) and creditors. 

you will hire your own third party inspector to conduct an inspection which can lessen the possibility of buying a "lemon".

But these were both inherited tenants.

If you had inherited it, your basis would have been the fair market value and you would have had a depreciable basis. 

There were some great cash flow deals back in 2009-2012 or so but of course prices have gone up quite a bit since then and rents have gone up but not as much .A lot of the people doing well with buy and hold in SoCal bought their properties when they were much cheaper or inherited properties .I feel that SoCal is a better market for flipping right now rather than buy and hold , but it is difficult as there a ton of people with big money and experience that can buy with cash .A lot of people do invest out of state but of course it is important to have a good local manager and team in the area .

When purchasing new properties, this includes inherited liability from former and/or abandoned USTs;2) In residential properties - particular student rentals - tenant frequently allow the fuel tank to run dry which leads to all sorts of extra problems (priming and/or relighting the furnace; clogged burners; frozen pipes, etc) and costs.

I'm actually learning more about probate right now I'm interested to learn myself and I know you can go to the county courthouse and talk to the County Clerks, I also know that there's ways to pull these leads from different software's or public records I also know it's a really targeted source...definitely emotional time for the person who inherited the propertyInterested in what other investors have to say

I have land that I inherited from my father; at least that is what I was told.

Here, you know for a fact that its a bad tenant situation - don't inherit someone else's problem - unless you are very handsomely compensated for it!