@Kevin Siedlecki there is no out of pocket expense as long as I have a tenant, and have it set up as a flip now but if a tenant chooses a L/O I stand to make 4x the flip within the three years, if they chose not to buy, then I will use the L/O again until a tenant follows through.

Account ClosedThis is a two-fold response for single family homes vs. commercial properties.

We will research further, but at this time we stand by our recommendation.

If Daughter wants nothing to do with this property, you could stand arrange to stand in her shoes and probate yourself or contract to buy from her after helping her complete probate. 

Going further, if anything taints the legality of the proposed agreement, unlawful dealing without a license, not having the proper business license or not being in good standing, your contract may not be valid.Now, through in the fact that you can only legally sell or lease something that you hold title rights to convey those rights of ownership or leasing.

The Journal Square area seems interesting from an investment stand point, but from what people have told me it's still a little "rough around the edges" and sounds like it's going to take some time before it's "up and coming".  

From a tax stand point how is this done?

That would not have happened if I did not listen to the Bigger Pockets Podcasts.My goal as a member of this community is multi-fold. 

They did everything from paper routes, lemonade stands (for the crews resurfacing our street - grew from simply drinks to full meals with hot dogs and chips!)

If the current tenant is creating a problem from a curb appeal stand points, has odors coming from the home,  or is otherwise degrading the value or safety of the units, I would definitely move them out if you are able.