We plan to pass this piece on along with the rest of our ranch to the next generation as soon as we finish paying it off aggressively.

We plan to pass this piece on along with the rest of our ranch to the next generation as soon as we finish paying it off aggressively.

Yea, you ****ers know who you are and what I'm talking about, even if the rest of us are confused (I don't mean you Chris - I'm talking to invisible people).

You could sell now and take the first $250K of profit tax free and 1031 the rest. 

I put about 3k out of pocket to fix up the unit I lived in when I purchased and the rest has been over the years so really only had 3k out of my own pocket.  

All they need is names and addresses and should be able to do the rest for you.

I am just wondering from a contractual side what kind of paperwork would I need to make the lease official?

One cause it lists as a breach of contract is 'Sale Without Credit Approval'.I'm not sure I answered all of your questions but rest assured, I will be talking to an attorney in the coming weeks.

If any of them leaves, the rest won't meet the minimum income criteria.How does one develop a joint analysis of the family unit?

They handcuff you if you want to sell one of your properties off from the rest.