I am in a good position. One day I will inheritate a property in melbourne. I estimate this in todays market to be worth at least $3 million. It is a very unique property as my dad has built the property to be singled level and it is of a high standard. You can go from one end of the property to the other end of the property (over 800 square metres of land with not much of a backyard, with a wheelchair, due to no steps or step). Anyway here is my thoughts on it 1) To sell the property as I think it's too good for me to live in and I'm not really interested in living in it Arguments against the above. 1) This property is my dad's legacy. He also owns a property in Sydney that has been owned in the family since the 1800's. So legacy is a big deal to me. 2) If I was to sell the property, I will really need to make good use of the sale proceeds because of thelegacy issue. My plan would be to buy a cheap but nice PPOR (Melton, Werribee, etc) and invest the rest in blue chip stocks and managed funds (maybe a property as well). 3) I have the option of renting the property out but I have grave concerns about this due to the property not being looked after properly and the yiled being crap. I want to be proven wrong on this point. So should I sell this property, make this property my PPOR (it is a nice property close to the CBD) or should I rent it out. If it wasn't for the legacy issue I would sell it straight up, but interested in peoples views onb this.