(example above is having $300k in equity in a personal residence) This will keep the investor focused on building cash producing/appreciating assets and not personal assets.

You've sold that $51,000 in equity with the house, and are in essence getting an annuity from it.  

For instance, I bought my current home in the Denver area 2 years ago, with $0 down, and have about $100k in equity as of now. 

The main reason that I joined BP was to try to hook up with co-investors for the dozens of high profit land deals near Seattle that I'm drowning in and I've offered to share $millions in equity on another deal in my portfolio for literally pennies on the dollar to try obtain a small amount of bridge funding.

I want build-in equity when I buy.

Personally, I would have a plan in place to pay them the $250k in equity divided by 3 people.

If that is the case I do not believe you are correct.For instance lets say it was a 100K houseat 3 months in it had 20K in Equity (the down payment)After the death it was paid in full.You cannot pay your brother 10K to get a 100K house.

Perhaps you can educate us regarding '...have someone there to represent you in the transaction' if that person needs to be licensed in any way in a SC Master in Equity sale?

But Really , I'd still have $15,000  -  $16,000 in Equity that I could use for the next Rental ?

There are still deals that cash flow from Day 1,  have built in equity and are in solid locations.