But, I am not willing to commit to 50 years (if I am lucky) of never harvesting material equity from my rental properties at this time so that she can inherit potentially millions or tens of millions of 2074 dollars at stepped up basis.I plan to pay the tax man and spend some of my money at some point.

This benefit allows the owner’s estate or heirs to receive the property at a new, higher basis—reducing capital gains taxes if they choose to sell the property after inheriting it.In short, partial disposition allows tax deductions for retired property components during ownership, while the death step-up basis resets the property’s depreciated value, providing tax relief for heirs.

I don't think my kids will want to inherit this type of property. 

Did you inherit this tenant?

I am in the process of buying a single family rental, and will be inheriting the tenant, who is on section 8.

This was in a middle class neighborhood and I get why that is less risk however with apartments increasingly including laundry, I would imagine demand lessening in that location. 

If you inherit a tenant and they have been a good tenant, I see no reason to suddenly ask them to submit an application for a potential lease renewal. 

Occupied with inherited tenants or vacant?

and on BP ultra wealthy could mean 1 mil in cash or 100 mil in cash or billion dollar empire :)  One thing is certain unless you inherit wealth it takes some amount of work to obtain it.

It wasn’t how I wanted to kick things off, but I worked with a contractor to get the bathroom fixed and functional.Once that was behind me, I focused on improving the building and maximizing income:I installed a shared washer and dryer for the tenants, a major upgrade that added convenience and increased the property’s value.I rented out the two garage parking spaces, bringing in consistent revenue.I also raised rents for the second- and third-floor tenants I inherited to be just below market-rate.