will take a little less than 2 years for the property title to transfer to the estate's sole beneficiary (child of the decedent). seems the estate should report depreciation expense for the property since the rental activity has continued (with a stepped-up basis). rental income is well in excess of the depreciation and property expenses.
are there any pitfalls to be aware of? either with respect to the depreciation taken during the period while the property is in the estate, or that would cause an issue for the beneficiary (I'm assuming the beneficiary will have a carryover basis when the property is transferred out of the estate)?