Purchase the property or the LLC that holds the property...

[Chase Keller]

Does anyone have any experience or insight on purchasing an LLC that holds property, as apposed to just purchasing the property in the LLC? Any benefits or drawbacks?
I am looking at a couple opportunities; one that has several smaller properties in the LLC and he wants to sell all of the properties in the LLC. 

The other only holds one property.

I can think of some benefits of not having an actual real estate transaction recorded, but wanted to see what others have experienced.
Thanks!

[Rob Gillespie]

I operate in the Cleveland market and there are a lot of surrounding burbs that have Point Of Sale cities. They require inspection and many times escrow to transfer property, however if you buy or sell an LLC, it will eliminate that process.

Another advantage is Conveyance and closing fees. 

I would only buy a virgin LLC that was created just to hold one property and to sell. You MUST be aware of any other issues from history of the LLC that could come back to haunt you.