Selling the LLC vs individual properties

[Andrea Hauserman]

On behalf of myself, not my work as an agent (thank you moderators), I'm looking for information about any consequences or considerations when selling an Ohio single man LLC with it's own tax ID that holds multiple rental properties, vs selling the properties individually. I understand the income tax considerations re: the cost basis of the depreciated properties, I've been told that property taxes might not get automatically get reviewed as they might on a direct sale, I've talked to a title officer about title search. Besides a huge reduction of paperwork, what should I know about this? I think I understand the positives, I'm looking for the unexpected twists in tax or legal. I understand this is akin to selling a company, but is there anything special about the company having been formed to hold only real estate?

[Eddie T.]

Andrea Hauserman years ago I use to think this was a good idea buying an established business with credit history tax returns etc. but after learning more I would also be buying any past legal liabilities that occurred under this company.
Plus any bad reputation this company has online or in the local community.
History of insurance claims.
And I do not know the answer to the depreciation question but if I am purchasing the company and they have already depreciated 5-10 years of a property and I cannot reset that to get the full 27.5 that would also be a major drawback.