Purchasing midsize multifamily holding entity

[Javier D.]

I am looking to purchase my second multifamily property. A friend recommended to purchase the actual corporation which owns the asset. I ran it by my attorney and banker whom both gave me the green light.

Pros:

No deed, no tax adjustment

Seller to credit me savings on transfer taxes.

I brought up potential title issues, liens etc.

Corp only has this property and rest can be looked over with a more thorough lien search.

Has anyone done this aside from land deals?

This is in kentucky.