Your basis though, has a major difference between whether you are gifted the property or whether you inherit the property.

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So much so that I'm seriously considering sending them a "best tenant" gift card to re-enforce their positive behavior.

Lots of drugs in the area. 54 is the best area like trinity/New Port Richey. 1 good tip about property management from the podcast is giving gifts when they arrive to the property and leave.

In projects that require a whole bunch of jack hammering and noise, we normally give the neighbors a gift card or a bottle of wine to thank them for putting up with the noise.

This is an amazing gift for anybody who understand math behind this and who wants to be serious investor. 

Source of down payment funds, if applicable: own funds, unsecured borrowed funds (credit cards), secured borrowed funds (HELOC, etc), gifted funds, other (explain)Income Source: Salaried/hourly W2, 1099 independent contractor (what industry and how long?)

We were gifted our first property, and our second property we took out a loan for.

a gift?

I did not know BiggerPocket yet, and if gifted the information we have to know, I would not have purchased the property.