If you set up an S corp or LLC, you DON'T have to file a return.  

Politely.  

Accordingly, you should gather data to support offers other than list price and when you make the offer, if it's low, politely explain your reasoning.

If we do all of the banking in LLC1's name, would listing the PERSON that owns LLC2 as an authorized signer pierce the corporate veil?

Don't miss the traffic, the taxes, the overbearing politics and government.As for lease options, I started investing with this niche about 30 years ago and I still use various lease option strategies today. 

There is an abundance of supply, high price tag, it's more of a corporate travel town than a vacation destination (meaning that 1-2 bedroom units are in most demand, which puts you squarely in competition with hotels). 

I did it myself in AZ through  AZ Corporation Commission here in AZ.

For Euclid you must have a local PM : Per E.C.O. 1761.02(b)(2), if Owner/Corporation resides outside of Ohio, Owner/Corporation must provide alocal manager who resides in or has a place of business in Ohio.

Any corporation (IMB, Google, Automotive or etc) building anything in Louisville?

SMLLC is considered a disregarded entity unless you made the election to be taxed as a corporation(C or S)