But aren't you at risk that it sells for the minimum bid of $67,000, all that goes to the taxing entity and you get wiped out? 

You can place the Kentucky property in your Illinois LLC, but you'll likely need to register the LLC as a foreign entity in Kentucky, which comes with additional fees and paperwork.

While it’s a different entity the cash flow from the building relies on income from your business.I would either buy the business or buy the building.

(I find BP to be the most helpful community on the internet)Cross border investing has immense upside financially and on the tax side as wellTo answer your question, the way your entity is structured plays a pivotal role, especially in the upcoming tax year. 

You should consider the right kind of entity structuring to avoid SE taxes on your profit.

I am looking for help with entity structure, asset protection, and estate planning.

There are a lot of requirements towards the qualified opportunity zone of which you didn't mention the three most difficult parts1) The funding of a qualified opportunity zone needs to be through capital gains.2) There has to be an entity structure of which there is more than 1 owner3) You have to materially rehab the propertyTalk to an accountant to make sure you have all the requirements met.

You form the LLC in your state and then register it as a foreign entity where your property is.  

We've found it has superior reporting features, integration features, and is overall more efficient to work within than other REI-specific software.The downside is QBO is not set up for REI so you'll need to do that or work with an expert to ensure it is set up for your business appropriately.Something else to keep in mind is your entity structure and how your entities file tax returns.

My suggestion is the following:If all of your properties are in separate LLCs, under the Baselane Banking tab on the left, create an Account for each Entity you have.