I'm trying to confirm my understanding of a less straight forward capital gains scenario than the one-time purchase and sale most deals involve.Essentially 100% interest in a condo was acquired over time, as each joint tenant passed away, leaving 1 sole tenant who gained full ownership by rights of survivorship.I've gotten differing opinions from different professionals and am trying to understand the calculation of the basis and the final capital gains  tax that would be due myself so I can spot bad advice and understand deals.Assumptions:A condominiumNo depreciation has ever been taken by any owner.No 1031 exchange.No expenses or improvements.

Rent or at such other places as may be designated by the parties from time to time.

I have flipped a few houses during covid and remote working times and was fortunate enough to grow up in a family of real estate investors and entrepreneurs which has provided me mentors and exposure to starting and operating a business.I am thinking of starting my own construction/development company in a few years time and wanted to hear some opinions from people who have done it who are outside of my circle.

So while the inventory is much lower (less properties to choose from for picky retail buyers), it's usually the best time for investors to negotiate a deal. 

(We manage our own because they are local)  Not only do we get our bi-annual 'tune ups" but with our service agreement we only have to pay for parts, not labor, on any repairs we may need throughout the year. 

In this case, I've been a real estate investor and property manager for 18 years so I would be the one to find the properties.

I'm guessing they are licensed Property Managment Co?

It takes time.

Thank you ahead of time.

If you and your partner are excited to start a business, this would be the best time to discuss with an experienced attorney who can point out things you all never considered or discussed.