You don't want to pass on a potentially good deal if it is workable (after all, our job is to be problem solvers), but you also don't want to inherit a nightmare.

Yes while all of these places have inherited traffic, do they attract the kind of people that will shop at your tenant's business or eat in their restaurant?.

Probate would happen, if someone opened it.....inheritance would be by state law.

Keeping month to month especially for an inherited tenant keeps you in the drivers seat.

I am inheriting the tenants but for 5 months only as they want to purchase a home, so I will be advertising the unit they move out of. 

My father is currently in a legal battle over a 30 acres property that he inherited from his Grandfather with a group of fraudulent wannabe land developers. 

I've seen dozens of deals where unrepresented investors bought a fsbo and didn't get disclosures, or they didn't jump through the hoops that are required by a specific town or county, or didn't get a title policy, or inherited a mountain of liens, or they got a sh*t deal from a shady wholesaler, or there was no mention of the meth lab that was "cleaned up" but really wasn't.

My inherited tenants are paying $150-200 less than the going rate.

It's just too easy to forget to disclose something and will lessen the liability of the Seller and increase the responsibility of the Buyer to conduct his own Property Inspection due dilligence.I suspect that outside of NYC, a lot of these kinds of things are done by the Broker's office.However, the Role of the Broker, after the "Meeting of the Minds," is VERY minimal.

I live in Loudoun County, VA. 2.5 hr drive. (130 miles)  I inherited the tenants for the property, so I never had to put in a tenant myself, at least yet.