Now if heirs hold it another 20 years we have no idea what the law will be in the future.Heirs residency has nothing to do with this.

Each strategy has its own set of benefits and drawbacks, as well as potential returns and risks.Buying to Flip for Quick ProfitBenefits:Quick Returns: Flipping properties can potentially yield quick profits, especially in a hot real estate market.Minimal Holding Costs: Since the goal is to sell the property quickly, holding costs such as property taxes and maintenance expenses are minimized.Creative Freedom: Flippers have the freedom to renovate and design the property to maximize its resale value.Drawbacks:Market Volatility: Flipping is highly dependent on market conditions, and a downturn in the market can lead to reduced profits or even losses.Capital Intensive: Flipping often requires significant upfront capital for purchasing, renovating, and holding the property until it sells.Income Tax Implications: Profits from flipping are typically taxed as short-term capital gains, which may result in higher tax liabilities.Buying for Rental Income and Long-Term InvestmentAdvantages:Steady Cash Flow: Rental properties can provide a consistent stream of income through monthly rent payments.Appreciation Potential: Over time, rental properties have the potential to appreciate in value, providing long-term wealth accumulation.Tax Benefits: Rental property owners may benefit from tax deductions on mortgage interest, property taxes, and depreciation.Challenges:Tenant Management: Dealing with tenants, maintenance, and property management can be time-consuming and requires effective management skills.Market Risks: Rental income may be affected by market fluctuations and changes in rental demand.Liquidity: Unlike flipping, rental properties may not offer immediate liquidity, as selling a property can take time and incur transaction costs.Comparing Potential Returns and RisksBoth strategies offer the potential for attractive returns, but they come with different levels of risk.

Broaden your horizons, hold yourself reasonably accountable for your missteps, and things will fall into place as they are meant to. 

@Jordan Budkeyou do have cities in riverside and san bernadino counties near san diego for buy and hold scenarios as well.

Your parents will want to work with an estate planning attorney and a tax advisor.If the house has substantial built-in appreciation, which is likely for a long-term CA holding, gifting the property might be disadvantageous to the heirs.That is where a competent tax advisor comes in.

Not a bad return for only a year in the market, but I'm a buy and hold investor.

If the family is holding it as an investment, then they shouldn't be shielded from the full cost, yes?

Hold and be happy with where I’m at?? 

Hi all, I have a Wyoming Holding company and Arizona LLC created.

North Linden, South of Main, Vassor Village, Woodland Park, MT Vernon, Milo-Grogan, Franklinton, Merrion Village, Hungarian Village, Southern Orchards, Driving Park, Olde Towne East, Franklin Park, King Lincoln, Old Oaks, Livingston Park are all but not limited to some areas in Columbus, Ohio I think will gentrify quickly and make for great long term buy and holds.