Does the LLC file its own tax return, or do you report the activity of the property on your own personal tax return?

I'm willing to help this person in any way I can.

STRs work best in tourist-heavy areas with high demand, while LTRs perform well in markets with stable economies and diverse job opportunities.

If directly to the seller, then you need to ensure that the payment is made, but also that it is made to the person who is entitled to it.

As one of my podcasts say, one person's yuck is another person's yum! 

As stated on their gov website: “FHFA is responsible for the overall management of Fannie Mae and Freddie Mac and has informed the Enterprises which decision-making functions should be performed by the Enterprises' boards of directors and/or management teams.

Managing five rentals can eat up a ton of time in any given week, often at times that are inconvenient to you and your personal interests (family, hobbies, travel, etc.).Of course you can manage on your own.

Does someone have experience buying a foreclosed property and keeping the existing person/family living there and converting to a tenant? 

I'd love to hear different perspectives and insights on this.On a personal note, I'm a husband and father of two.

I purchase my personal investments to maximize their equity and hold long term.