It's best practice to remove them, spruce the place up, and put in new tenants at market rate that have been screened and approved by you.

My kids are off to college and I will be selling my business soon and I will have a couple million USD to invest. 

The Arizona Department of Real Estate (ADRE) receives numerous calls and complaints from the public and real estate professionals related to the practice of unlicensed activity and wholesaling.Specifically and over the past few years, the practice of wholesaling property has generated complaints about deceptive sales tactics, predatory contracts and clouding title to properties.

In practice, separate entities should be separate.

@Kristine Lambert  I would find this odd if the son is older but if he is college age just could be just a difference in the definition of living with her. 

I practiced in front of a mirror and my family for days.

My oldest child is attending online college from Portland and renting a room.

I just got engaged to my fiancé, who graduated college in May and has a considerable amount of debt.

I suspect an Bk attorney would advise you that you don't qualify for a BK.I suggest you consult with a very good real property attorney, preferably one who practices in the area the property, or better yet the foreclosure Trustee is located. 

If a legal issue arises with Property 1, only that property’s assets would be at risk, protecting the equity in Property 2 and any other properties you may own.Asset Isolation: Isolating each property in its own LLC helps protect your assets from creditors or lawsuits targeting a specific property, thereby providing a more robust legal shield.Financial Management and Bookkeeping:Regarding your concern about financial management and the practicality of handling multiple LLCs:Centralized Banking: Using a holding company’s business account and credit card can simplify your bookkeeping.