If the value of the investment property portion is less than the net sale price of $490K (ish) you will recognize and realize some (or all) of your tax liability. 

Hello John AmiriOwning properties in an LLC protects a person from getting sued for all their real estate holdings, or all their assets.  

You can go after one or all of them if necessary.As for the address I would send it out certified return receipt requested with address correction requested to the apartment they left.

Don't pierce the corporate Veil: This can occur if the entity either is poorly capitalized.Inadequate Initial funding of the entityor fails to maintain a separate identity from its owners ( using the business bank account for business purchases, maintaining separate books)Conversion of entities Assets for Personal Benefit:Another factor that poses a risk of piercing the corporate veil is the draining of entities assets (such as payments of large salaries to shareholder-employees) that leaves the entity with inadequate resources to pay its debts.Do not commingle personal and LLC assets.Maintain a separate LLC bank account.Execute an operating agreement.Follow the provisions of an operating agreement.Have LLC member meetings according to the operating agreement.Title property in the name of the LLC.Maintain insurance on LLC property in the LLC's name.Sign all LLC documents in the LLC's name, not the members' names.These steps will also provide a better defense against other creditors attempting to show you pierced the corporate veil.So,  put the money in the LLC's Book as capital contributions from your partner, and use the moeny for the transaction.Also, although I do not know the extent of the business you have conducted so far or will in future, you should consider electing S-corp. 

.§3-2 The Property Manager shall communicate regularly with the Client, either orally or in writing and shall provide the Client with written reports as needed and as agreed between all parties.

attend the MHU bootcamp, listen to other podcast such as kevin bupps, jefferson lilly's, read other post about MHP's.Many people take on a partner or two for the equity portion w/ some or all owner financing. 

It may be advantageous to convert some or all of my Traditional IRA to Roth but I don't think it is necessary to do that in order to get the $25K per year passive loss carry over deduction.

Typically it's a portion or all of the first month's rent to secure a new tenant and there will sometimes be additional fees for services not included in your base rate. 

[ONLY IF A SHARES EXIST] The option to sell shares to be determined by "A share" holder, president of LLC, otherwise if the president elects per below:Restricted sale provision:Shares of LLC are not marketable except to existing shareholders or to a prospective shareholder if and only if unanimous agreement from the existing shareholders.Selling to new shareholders or selling off a portion or all of the real estate: If shareholder voting is unanimous, a portion of or the entirety of the underlying real estate can be sold to a new shareholder and/or removed from the LLC ownershipLLC shareholder(s) buyout of shareholder: If any existing shareholder desires to dispose of their shares (and the desire is not unanimous as in part 2), they must be offered to existing shareholders at XX% of current assessed tax value of the underlying real estate associated with the shares.

I would consider upgrading some or all of the house in the near future.