California does not recognize series LLCs. 

If you consistently analyze properties, recognizing a good deal will be much easier when it shows up.

First off, if you have passive activity losses carryovers (unused losses from previous years) those losses wil be recognized to the extent of your passive income (gain) from the sale.

The PM should have written authority to sign on the owner's behalf. 

On its resident fees page, it states that the Jerome Village Community Development Authority can charge up to 2% income charge. 

Definitely go the legal route here, don't rent out the basement unless you have the OK from the relevant authorities--it's regulated for a reason (fire safety, carbon monoxide poisoning, etc.) and your insurance will not have your back if something goes wrong.

The president apparently knew my grandfather who lives in Wichita and recognized us because of our very unique last name. 

If there is evidence of intentional destruction of the property, you can call local police authorities, but in my experience, they do not get involved in any situation that "smell" of civil action; they will simply tell you that it is a civil matter. 

Recognize this.I have not purchased to brrrr since December 2021 due to the 2nd item.  

We negotiated a purchase price of $50,000, recognizing the quick resale potential.