I'm relatively new to this; I own one duplex which was empty and needed renovating when I bought it, and I'm looking at a 4 unit property with 2 of the 4 units currently rented. Since I've never dealt with previous te...

I inherited a section 8 tenant when I bought the house last month who has been here for 10 years and has not paid his partial of last month's rent.

She wants to give me her house and move into a senior citizen home@Dana N Johns: Just a couple of thoughtsTalk to a real estate knowledgeable, CPA, not to your standard CPA and not to unknown investors on some forum in the ether for a matter like this.Now, if your mother has lived in the property for two of the last five years, she is entitled to a tax break on capital gains if she sells or if the title changes hands (basically sells using creative finance).However, if you inherit the property, there is a tax advantage to you in terms of stepped up basis and capital gains and a tax advantage to her from incurring capital gains if she is outside of the “two of the last five years” window.As far as the Medicaid situation, that is best explained by a CPA or tax attorney or Enrolled agent.

Plus it will lessen your competition as most people run away from rough properties....

Actually, the hoa supported the safe harbor, since the banks were so slow to foreclose, and didn't want to foreclose and inherit a $20k debt.........the HOA's were not collecting any dues on those homes, so they wanted them foreclosed so they could could get new, paying owners in there.

I am very grateful and thankful to a parent who recently passed away and left us with an owned condo (no mortgage) .  My question is renovate and rent, or sell.  Not a real estate professional for tax purposes, but cu...

I wouldn't want someone who only deals in big corporations to help me with a trust return for example.As is commonly said on these forums, pricing lessens if you are willing to work with a remote professional.

I've recently seen a few properties for sale in which all units are occupied by tenants which prompted a few questions about the prospect of inheriting tenants. 

When I purchased the full duplex, I inherited one side of the duplex tenants who are paying far below market rent, and new tenants on the other side are paying market rent.

You'll get a stepped up basis on the inherited property.