How are accounts usually set up for capital, distribution of proceeds/profits...I feel I can free style but I do like to see what works before reinventing the wheel.This seems long as heck but I guess I'm a little excited.

I realize this isn't reinventing the wheel, it was just something I hadn't seen discussed specifically so I was hoping to get some insight into whether or not it is as workable as other methods.  

Let's not reinvent the wheel here. :) Your heirs can use the payout to write a large check paying the mortgage off entirely, if they wish, or use it to make the payments until they sell or otherwise dispose of the property (which could include one of them refinancing it into their own name).

No need to reinvent the wheel, plus it covers you for several Colorado specific issues that are required in the lease.Third, keep in mind that research (aka looking) is not action.

You don't have to reinvent the wheel. 

Don't reinvent the wheel and follow what other successful investors have done and get in the markets such as Indy or Ohio or.... go with what I know?

No sense reinventing the wheel.

I think when you are starting out, you don't need to reinvent the wheel.

Or perhaps I am just re-inventing the wheel.

Don't try to reinvent the wheel, but rather learn from those more experienced than you.