Here is a detailed look into this issue:https://www.biggerpockets.com/forums/51-tax-legal-issues-con...

Spending more than 100 hours and more than anyone else, or substantially all the time in the business.So if you own an STR and meet the test, you can set up a tax deduction machine.Some issues -- You have to count your time, and the time other people work in the biz (cleaning, maintenance, etc..)- If use the property more than 15 days or 10% of the time it becomes a residenceI suspect this is part of why the STR trend has picked up so greatly amongst professionals working in tech.

I inquired about the possibility of a two-company structure: A traditional LLC that is the public face of the activities (collecting rents, paying contractors, etc.) and managing the Series LLC with each property in once cell in it (in this case, Series LLC is serving as a holding role).Again, one attorney said that would be much better than a standalone LLC and that is recommended approach, and the other said it is waste of time and money since there are some requirements from Texas Real Estate Commission, which is requiring being a licensed broker in the state to operate in the managing LLC.So, just want to hear what other Texas investors are doing when it comes to series LLCs regarding these issues. 

Since you're purchasing it under market value, you shouldn't have an issue getting it appraised at $145K.The seller would net $140K and the additional $5K would be seller's concession towards broker commission and closing costs. 

Shoot me a reply if you ever have any issues.

I then Issued a 3 day Notice to Quit last week, no response!

Most of the negative feedback on BBB has to do with their lack of responsiveness, which could be a growing pain issue since they are affiliated with at least several large REI groups that I am aware of, so are presumably overwhelmed with new business right now.

Budget $15-$20k for a rewire.To take it a step further, if you build a relationship with your subcontractors they may even teach you how they estimate so you can repeatedly build a robust estimate completely on your own.Excluded from the above is foundation issues & outages in the framing (often caused by foundation issues).

If no action is taken, the property can be sold.Lis pendens: A lis pendens is a note issued to a homeowner to let them know that a legal action will take place against them that affects the title to their property.

From the little you mention, it sounds like simply a risk aversion issue.