@Ned Carey So in order to clear the title you have to file a Quite Claim?

So make sure the LLC doesn’t file it’s own taxes  If you sell $600k and $350k properties to buy one property that new property will have to be $950k or more.

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

However there is filed evidence that the CMX-1 property in question was approved for two residential units and a commercial. 

You will have payroll and tax filings.  

I've also filed my personal 2023 tax returns and have those available with the STR income included.

Lesson learned on going into business without exit plans, I guess...For reasons out of scope here, I just filed my 2021 taxes and the IRS hit me with a $30k capital gains bill (not including interest or penalties).

We file jointly.

Unless you got amazing supporting documents from the previous owner (a move-in checklist, pictures of the unit in the prior condition) it could be hard to make a case to keep the deposit.If you do keep the deposit and they file a claim against you and win they could get 3x that security deposit.

Most states WITH income tax require you to file a nonresident tax return if you're generating rental income in their state.