That is, your basis is whatever it is on the date of her passing (or an alternate date, but that's beyond the scope of this discussion) so that you receive all of her appreciation tax free, essentially.If you transfer title prior to her passing, she could be subject to gift tax, which can get prohibitively expensive, depending on the total size of the estate.There are ways for her to transfer the property into a trust and then you and your siblings would inherit the trust, but those issues are a bit beyond my expertise.

Alternatively, we buy heirs' interests pizza-by-the-slice style.

@David Clinton III - I am 99% sure I saw your truck w/ the phone number in Spokane this week!

The alternative would be to sell the flat in its shabby condition, which would of course not fetch a premium price.

I've even stopped the ice cream truck and gotten all of the kids ice cream.

I suppose my backup would be to use an alternative source of heating like others have mentioned, perhaps several oil-filled radiant heaters.

New to buying investment properties (in the Charlotte, NC area) for rentals….My latest unit is without a dishwasher, fridge, or oven.I've heard there are good, low-priced alternatives to buying new top-of-the-line appliances for rental units, and would love to hear opinions and get advice on this….Thank you!

Currently with Trans-union, I am at 706, but that is after I took out a loan from a credit union a few of months ago to finance a truck + a HELOC the following month.

If your parents are forcing you to go to college and you are not ready to take them up on their alternative of moving out, try switching your major to something to do with real estate.

I expect that worst case scenario the appraisal would come in at $140,000 (70% of 140,000 = $98,000).Alternatively, it's hard to say what the market will look like in 5 years, but if things remain similar in this area, I could easily sell for $140,000 and make a small capital gain after pocketing 5 years of rent payments.What else have I missed here?