I have come into some inherited properties and want to use these as a launch pad to grow into a real estate investor. 

If you inherit the property eventually, they are not taxed and you are not taxed.

I inherited a property, 2 story 2200 sqft. 4 bed 2 1/2 bath. 1981 built.

Adding them to the title to avoid the property tax hike that will happen once my kids inherit the property. 

My wife’s mother recently passed away and inherited her house via a lady bird deed, along with her 2 brothers.

When you see it from outside, now there is a massive stain in the vinyl siding that comes from the second floor, and it smells terrible like pee.In the second floor there is a tenant that I inherited and has a giant dog.

IRS rules stipulate there may be no direct or indirect transactions, benefit, or extension of credit between an IRA and a disqualified person.An example of a potential pitfall would be if the parent-in-law were to pass, and the spouse now inherits their estate - and thereby an interest in the loan to the IRA.If the willingness to lend or the terms of the note are well outside standard lending parameters, that could be viewed as a potential benefit.So, possible? 

However, that does NOT settle the Pennsylvania inheritance taxes on the property.

Buy or inherit and hold for a long time, then cash out and redeploy equity into potentially higher cash flowing properties or other investments.2.

Or is it safer to stay away from a potential good deal because of the inherited tenants?