There are 3 properties, 4 with the addition of my parents' home (which I believe I could probably rent for more than the others, to generate at least around $100k total). They three are all rented out for (at a minimum) the rest of 2017.
I believe the tax basis on the homes has been reset with their passing, so capital gains would be set to $0 if I were to sell immediately (but as we have renters, I don't foresee that happening). These houses are also in a state that doesn't have state income tax, for what it's worth. Sales tax is relatively high though.
I'll definitely be reading more books to get a better grasp on the situation, too - thanks.
I believe the tax basis on the homes has been reset with their passing, so capital gains would be set to $0 if I were to sell immediately (but as we have renters, I don't foresee that happening). These houses are also in a state that doesn't have state income tax, for what it's worth. Sales tax is relatively high though.
I'll definitely be reading more books to get a better grasp on the situation, too - thanks.