If you plan to keep it, I suggest planting fruit or nut bearing trees on it or timber.

Sort of questions you need to ask those tax sepciallists as that can get there creative juices going and there may be answer that hasn't been thought of that way?

And it’s providing us with an incredible opportunity to focus on the positive and to channel some energy into something that will bear good fruit.

Yes, there are a few areas in OH that are very "fruitful" so to speak.

With the entity piercing the corporate veil is possible but usually an entity creation makes people go away more as they want the low picking fruit (no asset protection).

It means the current owner is not the best manager, and there is clear low-hanging fruit to manage the property better in order to make more money.e.g.

Low leverage allows you to be lent money during a correction and be able to pick up the low hanging fruit.

California used to be "The Land of Fruit and Nuts", but now it is "The Land of Lenin and Stalin, aka Feinstein and Boxer" Sorry if this belongs in the political section, but CA has nearly 10% state income tax, nearly 10% Sales Tax and the average auto cost $1,000 a year for registration.

Personally, I'm a big believer in hitting the low-hanging fruit (easiest kill) first, which is part of the reason I'm such a huge proponent of househacking! 

At first glance I don't think the juice is worth the squeeze for 20k sweat equity.