Another consideration based upon how taxation is set up currently if you hold the property to your death your heirs will get what is called stepped up basis.

One structure would be a multi-member LLC, which allows for pass-through taxation.

There is a lien from NYS Dept of Taxation.

I am planning to bid on a small commercial property that has a lien on it from the NYS Dept. of Taxation & Finance.

So, for example, if Uncle Harry bought Kodak stock in 1935 for $500 and it's worth $5 million at his death, the basis is stepped up to $5 million in the hands of his heirs and all of that gain escapes income taxation forever.

You don't have to pay this tax on the normal LLC Gross Receipts taxation method.

You need to start from scratch.As far as a roth vs traditional it depends on taxation.

How straight forward is avoiding the double taxation of income?

Lancaster to find who owns the property go to SDAT (State department of Assessments and Taxation) It's easy to Google.To find where they are and a number for them just Google people search.

Then you need to move on to taxation and note management, modifications, collections, securing collateral and disposing collateral.