Exception01 Qualified retirement plan distributions(does not apply to IRAs) you receiveafter separation from service in orafter the year you reach age 55 (age50 for qualified public safetyemployees).02 Distributions made as part of a seriesof substantially equal periodicpayments (made at least annually) foryour life (or life expectancy) or thejoint lives (or joint life expectancies)of you and your designatedbeneficiary (if from an employer plan,payments must begin after separationfrom service).03 Distributions due to total andpermanent disability.04 Distributions due to death (does notapply to modified endowmentcontracts).05 Qualified retirement plan distributionsup to (1) the amount you paid forunreimbursed medical expensesduring the year minus (2) 7.5% ofyour adjusted gross income for theyear.06 Qualified retirement plan distributionsmade to an alternate payee under aqualified domestic relations order(does not apply to IRAs).07 IRA distributions made tounemployed individuals for healthinsurance premiums.08 IRA distributions made for highereducation expenses.09 IRA distributions made for purchaseof a first home, up to $10,000.10 Distributions due to an IRS levy onthe qualified retirement plan.11 Qualified distributions to reservistswhile serving on active duty for atleast 180 days.12 Other (see Other below).

Also, check the owner if record's death certificate for next of kin.

It isn't that hard to track down divorce, death, marriage, birth certificates, etc.

what are they going to do, make it a toll road??!! 

Current monthly rent toll is below market at $1700.

Is there any depreciation recapture required by an estate if there is a transfer upon death?

I might even say 100% but only death is 100%. 

Everyone has had very good suggestions so far.Remember that markets are ever evolving and what used to work in the past doesn't always work today or in the future.You have to appreciate that if you have no money and no credit you are probably going to have to have seller finance which means you won't get the best deal on the price...for a rehabber this is the kiss of death.

There will always be an exit, whether it be from you moving on to other forms of investment, ridding yourself of a problematic property, selling to take advantage of other opportunities, disposing of assets before death, etc, and you should already have a game plan for such.

You have Toll Brothers finalizing their apartment project as well as the recent apartments built on Bridge Street.