My wife and I just inherited 3 rentals in Southern California, Lucerne Valley to be exact.  

I inherited a tenant in one of my properties and they reached out to me the other day and told me about damage in the bathroom.  

Depending on your bracket, taxes could lessen the net benefit of $1950-$700. 

If occupied then the buyer and seller come to an agreement as to how that is going to be handled... seller rent back for a certain amount of time or buyer to inherit the tenant with all of the documentation that goes with that, rental application, lease and security deposits.  

Thanks for your response, im 29 currently and inherited the house im living in now.

And only because I inherited those tenants...... the inspections are what makes me not want to do section 8.

Question for the tax pros out there.If someone inherits a home from a trust after death of the owner, and the home is their primary residence, does the two year period to exclude capital gains on the sale of a primary residence start from the date of death or the date the house was distributed from the trust? 

To combat this, I did a 2-1 buydown to temporarily lessen my monthly payments.

To combat this, I did a 2-1 buydown to temporarily lessen my monthly payments.

There might be other advantages for the residents of states and countries that have an inheritance tax.Mind you, for those who still don't like it, they can still by through a Mexican corporation.