Thanks for the response as well Paul, my concerns are not necessarily around depreciation (I’m pretty sure that buildings are depreciated over 27.5 years opposed to 20 years) or other deductions that are typical to long term rentals but rather tax guidance that dictates what is a schedule E rental portfolio vs. a schedule C business similar to hotels.  

@ Lucas Machado , Thanks for the response and the excellent insight! 

Question,   should I put the money up to have it surveyed and create a preliminary planned development?

Thanks in advance for any response.

Death does not end responsibilities.

Gail Thank you for your response!

The cost of Deed prep is likely your responsibility anyway. 

My response, and I quote, edited to remove vulgarity, was "Freakin' A!"

My response to the seller would depend on the strength of my negotiating position.If it's a property that has been hard to sell, or if the seller is under some kind of pressure, you probably have the upper hand in the negotiations.If that is the case, I would counter, stating that unless they allow you to conduct a full inspection, you are out of the deal. 

Is a tenant survey a good idea?