Thanks, for everyone taking the time to reply to this, and providing me with some framework on how to identify an opportunity that is for me, and what to look for when an opportunity truly does present itself.

While the large franchise brokerage may not be for me in a few years it currently provides me the framework to get the selling side of my business rolling strong... 

Also, some estates require court confirmation (here) and you need to know how to recognize which ones do in order to flag those and perhsps avoid.Spending an afternoon in the court records archives and pulling at least 5-10 actual case files and reviewing the documents, forms used, the order recorded, the variations and the real estate, will help familiarize you with your state's system.Also, you need to find where your state's pribate code (laws) are found, as these are your framework for dealmaking. 

Aside from establishing whether a specific property is well priced, the currency, taxation, legal framework and property management areas will be the most important ones to research.

i agree with frank. the numbers look good. of course it will cost a great deal more for any structural repairs needed, which is definitely a factor in the purchase price. coming from the point of view of a home inspector, as i am, i find it unusual that the second floor slopes but not the first floor. if there is a foundation issue, the first floor will slope in parallel with the second, as the second floor is built on the first which is built on the foundation. i would say you likely have a structural issue with the frame work of the second floor, which may also be evident in the roof line. regardless, it warrants having a structural engineer look at it and factor any additional costs into your purchasing offer. 

You could potentially work with your CPA to structure your rental holdings as a business that generates earned income and therefore the potential to establish and contribute to a Solo 401k, but it is unlikely that would be to your advantage - moving low-tax income to a higher tax framework so that it can be tax-deferred into a retirement plan.

With the big picture goal I mentioned above what are some ballpark ROI figures for a long term buy and hold framework ?

Not saying you have to figure out the complete framework of another structure up front (that would be premature) - but would be good to think about whether or not this LLC is designed to cover one building, period, and anything else would be a separate conversation, or whether it's designed to expand.Good luck and keep us posted!

My best guess though is that while that might work in the single LLC and its variants, it might not be viable under the separate LLC framework.

Depending on the damages, there could be extensive work involved replacing all the damaged framework, electrical, plumbing, etc. as well as getting the smell out.