Improve your credit and financials so lenders are willing to take a chance on you.

Those are people who have cash/credit and will lend to you if you have a good deal locked up. 

Keeping clean records from day one really helps when tax season rolls around.

Not only will lenders be effected, but borrower credit, business loans, inventory, and auto credit will suffer when those effected have to relocate, find long term replacement housing and their livelihoods and income are destroyed.

Or are you actually talking to a bank about buying the note so you can see the notes and credit on the owner of the property?

From a tax perspective, you'll want to take what you paid for the property plus calculate the improvements you made to the property during your time of ownership.

The only purpose of the account would be to collect payments and pay bills like taxes and insurance on assets held by the LLC.

I have one long term partnership that we share capital but I still do all the work ( rain maker) he is a cpa so he does do the books and tax return though :)  WE built one subdivision together were he put in 500k and I made him 1.2 mil in 18 months net profit so that was not bad.

This could make the sale more appealing by solving a logistical challenge for the landlord.Things to Keep in MindUnderwrite Conservatively: Make sure you account for all costs, including property taxes, maintenance, and potential repairs.

The taxes and insurance sound like where we are in St Augustine and NY.