I'm on my own and don't need to take into account anyone else in making this decision (first time in a long time!).

Make sure to run the numbers as a house hack and it being fully rented which is your ultimate goal to get a better idea of the financial implications of this decision long term. 

I have told them I can't do anything until I can exercise the options.The market is somewhat cooling off and that may effect my decision on keeping or flipping the properties.I have done several 1031's with @Dave Foster and he's the best at this process.I am managing more properties than I want to already and would need to cut back on some if I plan to pick up any of the three properties ( they will need some cosmetic work for sure).The first position notes are one's I hold.

I wouldn’t make the decision to keep it if you aren’t also planning to grow a portfolio, or grow in real estate in general.

@Mike BianchiSounds like a good problem to have in making this decision.

@Skyy Dugger - Maybe get a tree removal company to give you a worst case estimate to remove the tree with the potential issues you're worried about so you can quantify the risk better to help you make your decision. 

Being the oldest sibling, and fortunately also the executor, my wife made the final decision, which she was allowed to do and they fortunately respected.

It can still be profitable, but still not passive, as homeowners usually need to be contacted for important decisions.

Share your thoughts on what is the best decision to make.

We both know our roles and where we stand on important decisions and that has built a long lasting and trusting relationship.In sum, definitely get a LLC for your business and continue to network with other investors in your area...if you hit it off with someone, and work together on a project that goes well, you may end up finding a long term partner to grow your business with!