I Know it will complicate taxes  because we have to file as an individual and then for the LLC  but there is a fair amount of depreciation and carry forward losses for us to consider, not sure when those will be completely written off. 

From all that you've explained, it seems this might not be the best plan or simply too complicated.. but I'm unsure where to turn or what to do next because I was really excited about the idea. 

If the appraiser notes or refers to the home as a boarding home or similar, then things can get complicated. 

These two look very comprehensive, but they're incredibly complicated, at least to me.

I know it is a judicial state.  

It was a complicated deal.

So running things on a day to day and month to month basis becomes much easier as operations get bigger and more complicated.

This is a more complicated question.

We were okay with paying a bit extra for something we love, but with the added complications of the undisclosed claim and the high insurance premium due to the property being in a high-risk status, it’s become a concerning situation.

Underestimating the time commitment necessary for successFunny how the more complicated, higher risk, and more knowledge required to succeed in a Particular aspect of real estate the easier and simpler the gurus make it sound.