It basically functions as a stepped up Basis to your Heirs.If the Appreciation is significantly more than $500k, I would say it makes a lot of sense to look into some sort of Capital Gains Tax mitigation.BUT, is there a risk that one or both Parents may wind up with costly health care at end of life which may confiscate the Asset?

Intel is a great example, who is building the largest chip manufacturing plant in the US right here, and it will be a $20 billion dollar investment that brings a few new thousand jobs.https://www.dispatch.com/story/business/2022/01/21/intel-ohio-building-computer-chip-factories-licking-county-jersey-township/9173472002/ Another example of economic growth is the upcoming Ohio State University Wexner Medical Center Inpatient Hospital which is a 1.9million square foot hospital that will bring over 800 new beds and a thousand new jobs. https://abc6onyourside.com/news/local/new-osu-hospital-expected-to-transform-health-careHere are a few more recent investments https://www.10tv.com/article/money/business/hydrogen-power-company-hyperion-bringing-700-jobs-to-columbus/530-25907aab-5517-4661-a9f3-d2ed2d5be6b0 https://news.wosu.org/news/2022-02-08/rumpke-to-build-50-million-recycling-facility-in-columbus Check out The Complete Guide to the Columbus, Ohio Real Estate Market which goes through the Columbus, Ohio market in depth and will give you a better scope of where the highest levels of growth are taking place and where to look to invest.  

Based on my research, it looks like Birmingham is a great place to invest:Diverse jobs/economy (Financial offices in BBVA and Wells Fargo, health care providers like UAB, car manufacturers with Mercedes and Honda, and growing distribution centers like Amazon)Cost of living is affordableHigh % of renters with low vacancy %Best of all: Low property taxes! 

Well, this has been sort of an emotional roller coaster given we need to sell the place within a time limit given our financial and health situation (plus wanting to put an offer on the home we want before it sells).

I also run an online business in which I sell products and services that people use everyday, for their home, business, and health with a company called 5Linx and hope to merge it with my future Real Estate Investing company and provide new homeowners with AMAZING products that can BOOST my income.

He let you out of the lease, so you can move somewhere that will keep you in better health.

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@Andrew Jones,Welcome, congrats on getting into the game, and putting your health and family in the front of your mind ;) Real estate is all about pursuing the life that makes you happy :)I own some property in Oakland and Richmond - not too far from you.

Smoking can cause significant property damage and is also a health risk we will not tolerate.

I just played around with some hypothetical numbers and a 50 year old male non smoker in great health can get a 10 year 200k term for about $22 a month.