Probate is the process where a court makes a determination of all the heirs, pays all the debts and distributes remaining assets of the deceased.

Dave and Joel, thank you for those ideas, I would ideally like to remain here in Venice CA (LA) while my mother and father are still alive, I guess the best thing that could happen would be to REFI and get the loans consolidated1st 470k 5.875% fixed 30 11 years in already2nd 250k 3.40% Adjustable till 2017 then principal as well!

I have no affiliation besides being a satisfied customer.I agree with @Trevor Ewen that there is a terrific need for hard-working, ethical property managers.

The duplex is underwater and a sale will most likely result in me reimbursing the remaining 5 to 10k due on the loan.

I found out later that he lost the court case and lost all the remaining properties he owned.  

Jumping right in, I was told today that I would have to cough up $349,000 DN for a $1,000,000+  4 plex.  25% would have been $287,500, which would have been easy.So now I'm considering breaking my IRA, cleaning out my savings,  and selling off a few things in order to satisfy that.Anyone know of another way to get the additional $61,500 short of making a lower offer?

But these issues still remain.

My partner made the point that the tenants could possibly do damage before they leave and we would like to eleveate the risk with a clause stating: "  Closing of transaction is subject to condition of property meeting acceptable conditions based on initial inspection and remaining in said condition as of day of closing.

Rents help you remain cash flow positive, and teach you about property management.   

From the remaining cash flow you put in about 71% of the required investment, you could approach it from that point of view.