The mortgage (and other lines) would likely be wiped out (but talk with a real estate lawyer or title company to be sure, I am not one) - which is why mortgage holders usually require an escrow account so they can pay the property taxes.

Sounds like what you really need is a feasibility study.  

Theoretically, we can then attach the funds to a new property or a temporary escrow account through an already agreed upon "substitution of collateral."

Just trying to compare the returns on my rentals versus my investment accounts.

I've taken all the major options to consideration such as book keeping, accounting, taxes, payments, maintenance/trouble calls, price of software etc.At this point, I'm looking for the most balanced option that will best help protect myself and my assets.

Once you can answer these questions I highly recommend reaching out to an accountant willing to consult you to address these items and dive deeper into your tax situation. 

With an Operating Agreement, separate bank account, etc.? 

Also, since you won't know the actual condition of the property, you'll need to account for that in your offer.

Any investor looks for places which have a bright future, not one's where their downtown is closed due to crumbling and unsafe buildings.https://www.wkbn.com/news/local-news/gas-explosion-in-youngs...https://www.economist.com/united-states/2022/03/12/what-buck...https://ysu.edu/center-working-class-studies/renaissance-who...https://www.propublica.org/article/these-companies-got-milli...As Bones would say, it's dead Jim. 

Should I use some SW for all this accounting?