In addition we are tracking to clear about $1mn this year.Our main issues are that we are technically homeless, and based in CA with 0 assets and are getting absolutely crushed by taxes. 

I in turn l learn I can sell assets (IE vehicles) and that will do. 

An RIA need not be registered with the SEC if the total assets under management from all sources is less than $25,000,000.

Nancy,Forgive me for two things: First, my not so tactful and apparently humorless use of the word "shamelessly" (although, if you have a good product, you *should* be shameless about it).

One of my concerns is depreciating the asset.  

After that I'm guessing that the executor will either have your parents buy out the interest of the deceased according to the operating articles of the LLC or it will be dissolved and the assets distributed to the members (your parents and the estate/heirs).Many of our clients have taken the opportunity of having some time to plan and have used a 1031 to purchase an investment property that they will convert later into a retirement residence. 

@Jason SternQualified plans are also good for asset protection as well as taxes.

There could be 20 offers on the property, and if it does not meet the minimum the asset manager has deemed they will take for the property, they will not sell that property.Further....in almost all REO situations these days, the listing agent doesnt even see these offers.

@Carmelita Sritragool I would advise against a highly distressed asset for your first multifamily deal.

I think you would not have to hire an Agent to help you but doing that would give you good representation and possibly be an asset for your desire to get the right property.