I still don't have permits after a fire and things were submitted in March for applications.

Ensure separate bank accounts for the LLC, and maintain proper formalities to avoid liability issues.

It has now been 3 months that the auction has been won and the deed has still not been issued.

We aren't talking about appraisals and permitting here. 

The historic southside in fort worth is such a beautiful neighborhood, it truly has some real value if the city could solve some of the social issues, it has a lot of potential for both residential and commercial investments.

You need to think about not just the potential income but also the potential problems such as city ordinances, state law, insurance, potential eviction issues, etc.

@Rud SevHere is a start:https://www.biggerpockets.com/forums/51/topics/839015-are-sy...https://www.biggerpockets.com/forums/51-tax-legal-issues-con...

There's a good chance the issue(s) you face has already been discussed and answered.Ask questions in the appropriate forum.

Quote from @Ed Hoffman: Are there any issues/problems If I want to purchase a rental property in Pennsylvania with my New York York LLC? 

This is just markets behaving normally, Austin was my first target two years ago once I got wind of the permitting and homebuilding we saw the long coming in and whether it was 2,3 or 4 years the entry point was way in front of us.I don't know if anyone gets "use to" 7% rates without home prices behaving and/or wages responding appropriately.