I would suggest you figure out something to put your proceeds into that will allow you to live conservatively yet comfortably off of the interest you can earn from them.

I myself have not exactly figured out how to properly "package" the lesson to allow for easy fast comprehension by the masses. 

In many states (sadly, my state is not one of them) you can do an "Assignment of Benefits" at closing and the owner can sign over insurance proceeds--I don't know if NY allows AOB or not.

I also invest in some evergreen funds... this allows ME to exit at my leisure (with some notice), and the underlying assets can be a mix of things... multifamily, development, debt - pick your fund objectives and commit. 

There is an exclusion allowed for property passing from a parent to child until February 15, 2021, but the rules drastically change after that date (Prop 19, Nov 2020 ballot). 

Instead this one property has allowed me to put about $3MILLION back into the economy in repairs, purchases, remodeling and capital improvement in 4 states.  

Prop 19 is pretty limiting now with allowing children to retain a parent's assessed value for real property. 

The tax code allows for the raising of the cost basis to the higher price, minimizing the capital gains taxes owed if the asset is sold later.

These single hit deals are what keep us in business and allow us to be around long enough to hit the occasional home runs.

I like to think of some as cardigan sweater wearers (Mr Rogers); some are people looking for business; some dreaming to start; a huge variety of information.Happy to roll up my sleeves.