I am interested in investing in something a bit more passive as I am getting older and, while I love the real estate asset class, I do recognize the need for multiple streams of income. 

@Michael Plaks @Julius Vincent @Jason MalabuteIf the OP (@Russell Roberts) were to change #1 be a direct investment, say an expensive LTR capable of creating large tax losses via bonus depreciation (and assuming he otherwise does everything to legitimately qualify for REPS), would that be able to offset the ordinary income recognized from the Roth conversion?

Does the heir have a legally binding, court recognized power of attorney?

Cost Segregation Services | MSCCost Segregation Services | MSCEngineered Tax Services (ETS)Leading the industry with about 18% market share, recognized for in-depth, engineering-based studies.

Recognize in this RE environment that REI is challenging.  

We expect to be in a position to redeem your interests in short order, and we will keep you posted, as always, on any developments in this regard.We understand the importance of distributions to our investors and recognize the impact this decision may have on your financial planning.

Remember, they can always refer themselves😊Use one of the ideas below to trigger who they know that they could connect you with:Just inherited a homeHad a loved one pass awayIs behind on their mortgage or tax paymentsHas a relative that can’t take care of their house anymoreHas a house they’re having trouble sellingIs facing bankruptcyKnows a probate attorneyKnows a bankruptcy attorneyetcPutting this in OVERDRIVECreate a spreadsheet (Excel or Google Sheet) listing everyone you can think of that would recognize your name or face.

Quote from @Ryan Coon: Hi Parker,This is a great question, and given the markets that you're in you do have some great potentially more affordable options.First, both TX and TN recognize "Series LLC's" which can be great options for optimizing asset protection and separation of properties at a lower cost than 1 LLC per property.

I think given these rules were written in 1986 before Airbnb was around, it does make some sense to call it that although I do wish there was a better name that people easily recognized we could use! 

Even if you don’t buy tomorrow, by the time the right property shows up, you’ll recognize it.