Since its a single member LLC in this case, its a disregarded entity so it should fall back onto the COO LLC's partnership return. 

If it's a cash buy, well disregard everything I just said. 

If your LLC is a disregarded entity for tax purposes, then you personally are actually the tax-paying entity performing the transaction - choosing to wrap it in a disregarded entity is optional at this point.3) In order to purchase or dispose of 1031 property fractionally, the umbrella entity must be a vehicle that permits this.

You can register an llc as single member if married in a community property state and therefore be a disregarded entity so all your income and expenses flow through to your personal return.

If you're living in one of the units, you can disregard that cost since it would make sense to self-manage, which will bring you closer to break-even. 

I heard that its a much higher chance for an IRS audit for a disregarded entity.

This LLC will be a disregarded entity since all activity of the property will still be on your personal tax return. 

[And real estate owned by a business entity, with a loan in the name of the business entity is disregarded as one of the maximum 10 financed properties allowed under conventional conforming (Fannie/Freddie) guidelines too.]

Disregard Climate Controlled competition. 

So disregard.- Comp variance.