They get the cost step up basis and now they can sell or even better keep the company going and expanding and potentially have a much more comfortable life The nice thing about RE is you can do it for as long as you want - it's not a physically demanding job.

This is a long term investment for me, so I am not concerned with short term, potential market fluctuations as all RE goes up over time.

Hey Christopher, I'd say kipping thorough research on the property, local market and potential tenants.

There are several factors to consider when deciding whether to replace the old mobile home with a newer one or renovate the existing one.If you choose to replace the old home with a newer one, some "gotchas" to be aware of include the cost of purchasing a new used mobile home, transportation and installation costs, permits required for the new home, as well as potential landscaping and foundation work needed to accommodate the new home.

Or where the funds to purchase come from (except that they need to use all of their 1031 proceeds in the purchase).The only time there will be a potential issue is if the daughter goes on the deed. 

Be aware of hidden damages in foreclosed properties, factor in potential vacancy rates, and consider property management for a larger portfolio to streamline operations.

You would get, potentially, the left overs.3.

**A tip when interviewing a potential buyer's agent, ask the agent about the conditions for commission compensation when the seller is not offering full commission percentage to the buyer's agent.

I am wondering if I should let others know about this potentially risky "investment"!?

In terms of cost, you just give up a percentage of the potential collected rents so there normally isn't' an up front cost to send someone to collections.