At some point the property will transfer to your buyer/tenant and you will no longer have a cash-flowing property.  

Your property will have to go up in value significantly in a short time to cover, closing costs, financing costs, transfer taxes, agent commissions etc.

I would consult with Local area real estate attorney or approach County Clerk Court Offices with Death  Certificate and Proof of being next of Kin and ask for Deed / Title Transfer assist.

This would likely be a problem with all lender unless you have a letter of transfer or some type of offer letter. 

Through bank: 4.25% 20 Yr Amortization to purchase, switching to 4.25% interest only construction loan for 1 yr on purchase price and renovations (aprox $65k), this will transfer to a 4.25% 20 yr amortization commercial loan when Reno completed.

Create a HELOC from the equity now in your primaryIMO - transferring equity from rentals to your primary only makes your financial/risk position stronger. 

For example, I often will finance purchases of investment assets through zero interest credit cards as I end up paying 3% annual interest through the transfer/advance fee in order to earn 7%-8% on my investment. 

When we purchased the property 5 years ago we were told only the garage was the only electricity bill we were responsible for.Which we didn't have any issues with this for the last five years.Suddenly, our first tenant called the electric company to come out to dispute her electricity bill.Now we wended up with a letter from the electric company that the foreign wiring needs to be transferred to the landlord's account.Now what? 

So, you transfer Title but the mortgage lien stays in place. 

Cozy came highly recommended by many but I definitely was not expecting the 5 day transfer between their account and mine.