Some inherited, some took decades to become overnight successes, some rent everything and aren't as rich as they seem to be, some get flat out lucky.

I inherited this property but decided to rent it until our kids are older and we have time to break away to actually use it.

I read your earlier post if it was me I'd evict the people in the worst unit, get it all rehabbed and done with fresh renters, then empty out the renters you kept get that one all redone and rented fresh. you never know what your inheriting from the seller

These choices should make more sense shortly.A couple of years ago my wife and I inherited a home due to some unfortunate circumstances.

The current owners inherited it about a year ago and the rents are well below market.

Here is the link to it.http://www.law.alaska.gov/department/civil/consume...I am no lawyer, but the way that article 8 is commonly interpreted in the industry is that if as a condition of a loan you need to move in to the home, you are able to issue a "notice to vacate" to any of the units, regardless of the rental agreement you are inheriting with the purchase. 

I would say we have had about 1/4 of the tenants we inherit stay on with us, but in a college town there is naturally a lot of turnover and a lot of tenants plan to move when the house is for sale since they do not know what the new owner might do (raise rents, need their unit to owner occupy it, have stricter rules, etc). 

A coworker of mine is trying to sell a family home that has been inherited.

They have considered transferring the home over too a care facility in trade but then they are losing their entire inheritance.

Be more vigilant in making sure we are on top of the MLS and get out to see properties and work with a sense of urgency.Letters and Postcards: Absentee owners, Inheritance List, Probate, Pre-foreclosure, etc.