Report Rental income and expense as you would do on a rental property here in US.
Any taxes paid on the income in India can be received as a tax credit in US
Upon sale of property, capital gains from such sales are to be reported in the US Tax Return and any taxes paid in India could be received as a tax credit.
Inherited or gifted property – Needs reporting though not an taxable event. Reporting is important to get the basis carried over.