Also, I’m not into tax evasion necessarily but she’s owned the place forever and has minimal taxes.

Also think about the tax consequences. 

Purchase price: $33,435 Cash invested: $33,435 Acquired this property through delinquent property tax investment strategy for $11,265.

Taxes are high too, with new assessments soon (but still lower than Cuyahoga Cty). 

I’m not saying you have a bad deal, or I wouldn’t buy it if it was located somewhere warmer without income tax.

You can win most tax appeals when your taxes are just out of whack for comparable properties so if you can find examples of similar properties with lower taxes, that is the only way you will win.

My down payment will be just as much as he still owes on the property, some small expenses, and maybe some prepaid taxes.

I was on a Senate Steering committee way back in 85 on how to deal with all the platted antiquated lots in CA. there are millions lots created before the modern rules and these lots exist today but many are not buildable and are traded back and forth from tax sale buyers to retail buyers who dont realize their 5k lot in CA is non buildable.So there was a big conference in FT.

However, managing multiple LLCs can mean higher costs and administrative work (separate bank accounts, annual filings, etc.).It depends on your risk tolerance and ability to stay organized.

(Net of capital gains tax and NOT including dividends.)