I would disregard some of the comments above.Buy the note and put it in no collection servicing.

Disregard asking price and do what makes sense as an investor.

I assumed that your LLC was a single member LLC treated as a disregarded entity.  

If not, maybe you should disregard those and deal with bigger issuesHow about holes in the wall for pictures?

With an LLC, it is good practice to maintain a separate checking account for the rental activity, though commingling business and personal funds is not an issue if your LLC is a single member disregarded entity and you are managing the property yourself.Consult your CPA for more specific guidance for your unique circumstances.

There are some exceptions to this rule and one of them is the single-member LLC disregarded entity structure.

Here is a basic example, disregard the insurance as I was trying to zero out the cash flow portion.My question for all you brilliant minds is, should I be considering this in my analysis? 

I kind of disregarded it because it looked fully renovated and not something i could add value to.

So disregard my comment about the 3 and 4 unit limits @Joseph Duren.

See: 1031 RulesHowever, as mentioned, you have to be especially careful with disregard entities and how you file the tax returns.